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Price book) Chang, Inc.'s balance sheet shows a stockholders' equity-book value (total common equity) of $751,100. The firm's earnings per share is $3.01, resulting in

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Price book) Chang, Inc.'s balance sheet shows a stockholders' equity-book value (total common equity) of $751,100. The firm's earnings per share is $3.01, resulting in a price/earnings ratio of 12.55X. There are 55,000 shares of common stock outstanding. What is the price/book ratio? What does this indicate about how shareholders view Chang, Inc.? The price/book ratio is (Round to two decimal places.)

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