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1. ACI Inc has sales of $300 million, a net profit margin of 9%, and 10 million shares of common stock outstanding. It has no

1. ACI Inc has sales of $300 million, a net profit margin of 9%, and 10 million shares of common stock outstanding. It has no preferred stock outstanding. If ACIs P/E ratio is 12, what is the share price of the company stock? Show your calculations.

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