Tarbox Tobacco Inc is an all equity company with 100M shares outstanding. Tarbox's stock last closed at $15. Tarbox has too much cash. The CEO, Walt Raleigh, wants to distribute the excess cash with an open market stock repurchase
He is contemplating buying back $225M worth of shares at a price of $15. Leaf Erickson owns 2 million shares in Tarbox. He purchased his shares before the repurchase for $15. If Leaf does not sell any shares during the repurchase, then what is his proportionate ownership afterwards?
A) 0.020
B) 0.022
C) 0.024
D) 0.026
E) 0.028
C
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Which of the following statements about organizational markets is NOT true?
A) Some consumers are included in the market. B) The size of purchases made in organizational markets is much larger than those made in consumer markets. C) Organizational markets are geographically concentrated. D) Organizational markets have a narrow customer base and a small number of buyers. E) Most demand for organizational products is derived and inelastic.
The two general elements required in order to prove guilt in a crime are:
A) Criminal act and resultant harm. B) Criminal act and damages. C) Criminal act and criminal intent. D) Criminal act and physical injury. E) Criminal act and at least one impartial witness.