Question

On its balance sheet, Walgreen Co. reports treasury stock at cost of $4,114 million. The company has a total of 1,100,000,000 shares issued and 950,000,000 shares outstanding. What average price did Walgreen pay for treasury shares?

a. $3.15.b. $3.29.c. $3.03.d. $38.1.

Answer 1

$2.74

Step-by-step explanation:

Calculation to determine What average price did Walgreen pay for treasury shares

Price per share =total treasury shares at cost/treasury shares.

Price per share=$4,114 million / (1,100,000,000 – 950,000,000)

Price per share=$4,114 million/

= $2.74 per share.