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Hayes Corporation has $396 million of common equity on its balance sheet and 9,000,000 shares of common stock outstanding. The company's Market Value Added (MVA)

Hayes Corporation has $396 million of common equity on its balance sheet and 9,000,000 shares of common stock outstanding. The company's Market Value Added (MVA) is $170 million. What is the company's stock price? (Answers are in $ millions.)

a) $16.76

b) $44.00

c) $18.89

d) $68.31

e) $62.89

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