The Shabaaz Co, currently has 4,000,000 shares outstanding that are selling for $24.25. The the firm's net income is 57,000,000, so the Earnings per 5 ares (EPS) is $1.75.
The form plans to use $5,000,000 in excess cash to repurchase shares at the current market price. If they execute this repurchase. whit will be the firmis Earnings per Shares (EPS) after?
A. $1.58
B. $1.45
C. $1.98
D. $1.71
E. $1.85
