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Annette [7]
3 years ago
9

Stryder, Inc., has 3 million shares outstanding at a current price of $15 per share. The book value of the shares is $10 per sha

re. The firm also has $30 million in par value of bonds outstanding. The bonds are selling at a price equal to 101 percent of par. What is the market value of the firm?
A) $30.0 million
B) $45.0 million
C) $75.0 million
D) $75.3 million
Business
1 answer:
KengaRu [80]3 years ago
6 0

Answer:

Answer:

                                                                                         $

Market value of shares (3,000,000 x $15)           = 45,000,000

Market value of bonds (30,000,000 x $101/100) = 30,300,000

Market value of the firm                                            75,300,000

The correct answer is D

Explanation:

Market value of the firm is the sum total of market value of shares and market value of bond. The market value of each stock is equal       to number of stocks issued multiplied by current market price of each stock.

Explanation:

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