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3. Apple Company has 10 million shares outstanding at a market price of $3.50 per share. Additionally, Apple had a book value of equity of

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3. Apple Company has 10 million shares outstanding at a market price of $3.50 per share. Additionally, Apple had a book value of equity of $95 million and total debt of $350 million. What is Apple Company's market-to-book ratio? a. 0.11x b. 2.71x c. 0.37x d. 9.5x

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