November 2009, Perrigo Co. (PRGO) had a share price of $39.20.  They had 91.33 million shares outstanding, a market-to-book ratio of 3.76.  In addition, PRGO had $845.01 million in outstanding debt, $163.82 million in net income, and cash of $257.09 million.

Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 25E: For a recent year, OfficeMax and Staples are two companies competing in the retail office supply...
icon
Related questions
Question

Use the information for the question(s) below.

 

In November 2009, Perrigo Co. (PRGO) had a share price of $39.20.  They had 91.33 million shares outstanding, a market-to-book ratio of 3.76.  In addition, PRGO had $845.01 million in outstanding debt, $163.82 million in net income, and cash of $257.09 million.

Perrigo's market capitalization is closest to:

  1. A) $952.16 million
  2. B) $3,580.14 million
  3. C) $4,168.06 million
  4. D) $4,425.15 million
Expert Solution
Step 1

market capitalization = Number of shares outstanding × Market price per share

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
Recommended textbooks for you
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,