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For the year, Peter Petroleum earned $2.1 million in net income. During the year, there were 1.05 million shares of common stock outstanding on average. Based on recognised similar businesses, the company's average P/E multiple is 13.8. And what's the value of Peter's stock? Response options in a group $32.23 $27.60 $21.40 $16.16

For the year, Peter Petroleum earned $2.1 million in net income. During the year, there were 1.05 million shares of common stock outstanding on average. Based on recognised similar businesses, the company's average P/E multiple is 13.8. And what's the value of Peter's stock? Response options in a group $32.23 $27.60 $21.40 $16.16

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...
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For the year, Peter Petroleum earned $2.1 million in net income. During the year, there were 1.05 million shares of common stock outstanding on average. Based on recognised similar businesses, the company's average P/E multiple is 13.8.

And what's the value of Peter's stock?

Response options in a group

$32.23

$27.60

$21.40

$16.16  

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