Homework Answers
| Book value per share: | ||||||
| Stockholder's equity in millions (7*1000) | 7000 | million | ||||
| Divide: Number of shares outstanding | 46 | million | ||||
| Book value per share: | 152.1739 | |||||
| Market/Book ratio =2.3 | ||||||
| Market /Book ratio = Market price per share / Book value per share | ||||||
| 2.3 = Market price per share / 152.174 | ||||||
| Market price per share = 350.00 per share | ||||||
| Market price = $ 350 per share | ||||||
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