Answer:
$282.59 per share
Step-by-step explanation:
Given that,
Stockholders' equity = $323 million
price/earnings ratio = 14
shares outstanding = 8,800,000
Market/book ratio =7.7
Book Value per share:
= Stockholders' equity ÷ shares outstanding
= $323,000,000 ÷ 8,800,000
= $36.70
Market price per share:
= Book Value per share × Market/book ratio
= $36.70 × 7.7
= $282.59 per share
Answer:
27 gallons
Step-by-step explanation:
If for every 41 miles, 3 gallons are needed. Using what we know, 369 ÷ 41 = 9. This means, to get 369 miles, we need to times the first amoiyng of gallons needed to drive 41 miles, which is 3, and times it by 9. (3×9=27) Therefore, 27 gallons of gas is needed.
