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Tomas has the same market value as its book value, they are the same. The company...

Tomas has the same market value as its book value, they are the same. The company has excess cash of $1,100, equity of $13,500 and other assets of $12,400. The company has 2,700 shares of stock outstanding and net income of $10,800. The company then uses its excess cash of $1,100 to do a stock repurchase.

After this stock repurchase, how much will the price-to-earnings ratio change? (Show before and after P/E)

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