Multiple Choice
Bay Marina, Inc., has net income of $153,700 and has 50,000 shares of stock outstanding. Similar firms have a price-earnings ratio of 15. Given this, what should the market price of Bay Marina, Inc., stock be per share?
A) $35.80
B) $39.29
C) $40.40
D) $46.11
E) $45.80
Correct Answer:
Verified
Correct Answer:
Verified
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