A stock sells for $20 per share. What is the book value of the company if the price-to-book value ratio is 1.6 and it has 120,000 shares of stock outstanding?

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter14: Investing In Stocks And Bonds
Section: Chapter Questions
Problem 1DTM
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Solve this Accounting problem

A stock sells for $20 per share.
What is the book value of the
company if the price-to-book
value ratio is 1.6 and it has
120,000 shares of stock
outstanding?
Transcribed Image Text:A stock sells for $20 per share. What is the book value of the company if the price-to-book value ratio is 1.6 and it has 120,000 shares of stock outstanding?
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