Gamma industries has net income of $3,800,000, and it has 1,490,000 shares of common stock outstanding.
the companyĆ¢s stock currently trades at $67 a share. gamma is considering a plan in which it will use available cash to repurchase 10% of its shares in the open market at the current $67 stock price.
the repurchase is expected to have no effect on net income or the companyĆ¢s p/e ratio.
what will be its stock price following the stock repurchase?
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