A company has 1 million shares outstanding and earnings are d2 million. The company decides to use d10 million in idle cash to repurchase shares in the open market. The Chapter 6 Dividends and Share Repurchases: Basics 53 part-i-06 13 January 2012; 10:20:27 company’s shares are trading at d50 per share. If the company uses the entire d10 million of idle cash to repurchase shares at the market price, the company’s earnings per share will be closest to:

In Stalbosky v. Belew, et al. , the court found:

a) the employer liable for hiring an employee with a criminal past. b) the employee liable for not disclosing his criminal past. c) the employee's actions were outside the scope of employment. d) the employer was liable based upon the doctrine of respondeat superior.

All of the following losses are excluded from coverage under Section II of an unendorsed Homeowners 3 policy EXCEPT

A) Phyllis, a medical technician, misread a lab test and the patient is suing her. B) While using his canoe, Bert hit another canoe. The other canoe sank. Bert is being sued. C) Violet runs a for-profit daycare service in her home. The parents of a child injured while in Violet's care are suing Violet. D) The homeowner's son was injured when he fell off a swing in the homeowner's yard.