Tall Tree Timber Has Annual Net Income of $213,640 and 72,000

Multiple Choice

Tall Tree Timber has annual net income of $213,640 and 72,000 shares of stock outstanding.Big Trees is a similar firm with similar growth opportunities that has 75,000 shares of stock outstanding with a market price of $31.80 a share and earnings per share of $1.48.What is the estimated value of Tall Tree Timber?

A) $3,603,208
B) $4,590,373
C) $5,009,046
D) $4,087,082
E) $3,874,298