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Ocean Power Technologies has $300 million of common equity, with 12.2 million shares of common stock outstanding. If their Market Value Added (MVA) is $152 million, what is the company's stock price? Your answer should be between 27.52 and 50.98, rounded to 2 decimal places, with no special characters.

Ocean Power Technologies has $300 million of common equity, with 12.2 million shares of common stock outstanding. If their Market Value Added (MVA) is $152 million, what is the company's stock price? Your answer should be between 27.52 and 50.98, rounded to 2 decimal places, with no special characters.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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Ocean Power Technologies has $300 million of common equity, with 12.2 million shares of common stock outstanding. If their Market Value Added (MVA) is $152 million, what is the company's stock price? Your answer should be between 27.52 and 50.98, rounded to 2 decimal places, with no special characters.
Transcribed Image Text:Ocean Power Technologies has $300 million of common equity, with 12.2 million shares of common stock outstanding. If their Market Value Added (MVA) is $152 million, what is the company's stock price? Your answer should be between 27.52 and 50.98, rounded to 2 decimal places, with no special characters.
Expert Solution
Introduction and Formula

Solution:

Market Value Added (MVA) means the difference between the market value of a firm and its common equity.

So, MVA = Market value – Common equity

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