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​(Stock repurchases and earnings per share​) ​CareMore, Inc. provides​ in-home medical assistance to the elderly and...

​(Stock repurchases and earnings per share​) ​CareMore, Inc. provides​ in-home medical assistance to the elderly and earned net income of $ 4.7 million that it plans to use to repurchase shares of the​ firm's common​ stock, which is currently selling for $ 40 a share. CareMore has 15 million shares of stock outstanding. a. What fraction of the​ firm's shares can the firm repurchase for $ 4.7 ​million? b. If the share repurchase has no impact on the​ firm's net​ income, what will be its earnings per share after the​ repurchase?

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