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A firm has 160,000 shares of stock outstanding, sales of $1.94 million, net income of $126,400, a price-earnings ratio of 18.7, and a book value

A firm has 160,000 shares of stock outstanding, sales of $1.94 million, net income of

$126,400, a price-earnings ratio of 18.7, and a book value per share of $9.12. What is the

market-to-book ratio?

About this question, why can not directly calculate the market value per share by (sales / shares of stock outstanding)

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