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The balance sheet for Quinn Corporation is shown here in market value terms. There are 25,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 131,000
Fixed assets 510,000 Equity $641,000
Total $641,000 Total $641,000

The company has announced it is goin to repurchase $27,500 worth of stock instead of paying a dividend of $1.10

a. What effect will this straction have on the equity of the firm?



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