A firm has a total book value of equity of $600,000, a market-to-book ratio of one-third, and a book value per share of $9. What is the total market value of the firm's equity?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6P
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General Accounting problem

A firm has a total book value of equity of $600,000, a
market-to-book ratio of one-third, and a book value per
share of $9.
What is the total market value of the firm's equity?
Transcribed Image Text:A firm has a total book value of equity of $600,000, a market-to-book ratio of one-third, and a book value per share of $9. What is the total market value of the firm's equity?
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