18 An analyst gathers the following information about the common stock of a company that is planning to buy back shares:

• Book value per share: $20
• Market price per share: $25
• Number of shares outstanding before repurchase: 9 million

After the repurchase of 400 thousand shares at the market price, the company's book value per share will be closest to:

A. $18.89. B.$19.77.
C. $20.93.