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The following information was drawn from the accounting records of Comcat Company.
| Net income available to common stockholders | $ 200,000 | |
| Preferred stock outstanding, 10% cumulative | $ 40,000 | |
| Market price per share of common stock | $ 10.00 | |
| Common stock outstanding | $ 900,000 | |
| Retained earnings | $ 300,000 | |
| Average number of common shares outstanding | 100,000 | shares |
| Number of common shares outstanding at end of the accounting period | 120,000 | shares |
| Dividends per share on common stock | $ 0.50 | per share |
Based on this information, the companys book value per share is
Multiple Choice
$10.00.
$11.60.
$12.00.
$12.40.
Answer & Explanation
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