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Sav [38]
3 years ago
12

Use the following information for ECE incorporated: Assets $200 million Shareholder Equity $100 million Sales $300 million Net I

ncome $15 million Interest Expense $2 million If ECE's stock is currently trading at $24.00 and ECE has 25 million shares outstanding, then ECE's market-to-book ratio is closest to: Group of answer choices
Business
1 answer:
krek1111 [17]3 years ago
4 0

Answer:

6%

Explanation:

Calculation for ECE's market-to-book ratio

Using this formula

Market-to-book ratio = (MV Equity)/(BV Equity)

Let plug in the formula

Market-to-book ratio = ($24 x 25 million)/100 million

Market-to-book ratio = 6%

Therefore ECE's market-to-book ratio is closest to 6%

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