
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Answer this Accounting question

Transcribed Image Text:A company has a net income of $4,250,000. It also
has 600,000 weighted-average common shares
outstanding and a price-earnings ratio of 18.5.
What is the market value per share of this company's
stock?
a. $2,850.00
b. $3.45
c. $0.50
d. $130.98
e. $22,750
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