Managerial Accounting: The Cornerstone of Business Decision-Making
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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Plush Pilots, Inc., has balance sheet equity of $6.0 million. At the same
time, the income statement shows net income of $906,000. The
company paid dividends of $480,180 and has 200,000 shares of stock
outstanding. If the benchmark PE ratio is 24, what is the target stock
price in one year? (do not round intermediate answers, round final
answer to 4 decimal places)
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Transcribed Image Text:Plush Pilots, Inc., has balance sheet equity of $6.0 million. At the same time, the income statement shows net income of $906,000. The company paid dividends of $480,180 and has 200,000 shares of stock outstanding. If the benchmark PE ratio is 24, what is the target stock price in one year? (do not round intermediate answers, round final answer to 4 decimal places)
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