A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,000 and other assets of $5,000. Equity is worth $6,000. The firm has 600 shares of stock outstanding and net income of $700. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed? Group of answer choices
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