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Problem 4-10 M/B and Share Price You are given the following information: Stockholders' equity as...

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Accounting

Problem 4-10 M/B and Share Price

You are given the following information: Stockholders' equity as reported on the firms balance sheet = $6.25 billion, price/earnings ratio = 8, common shares outstanding = 56 million, and market/book ratio = 1.5. Calculate the price of a share of the company's common stock. Round your answer to the nearest cent.

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