s People Tab Window Help * 95% Tue Sep 15 8:21:46 PM Cap-Cengage Learning * Course Modules: QMB2100.00 % /index.html?deploymentid=5933142150846984635358312180/SBN:9781337911009&id=844112103&... INDTAP Q Search this co ork Module 1 Homework Assignment Score: 85.00% Save Submit Assignment for Grading Question 20 of 20 Problem 4.21 OP-E and Stock Price) Check My Work (3 remaining) eBook Problem Walk-Through Ferrell Inc. recently reported net income of $9 million. It has 290,000 shares of common stock, which currently trades at $61 a share. Ferrell continues to expand and anticipates that 1 year from now, its net income will be $15.3 million. Over the next year, it also anticipates issuing an additional 116,000 shares of stock so that 1 year from now it will have 406,000 shares of common stock Assuming Ferrell's price/earnings ratio remains at its current level, what will be its stock price 1 year from now? Do not round Intermediate calculations. Round your answer to the nearest cent. Check My Work remaining) Oy A 96 0 7 8 9 6 4 5 0 s People Tab Window Help * 95% Tue Sep 15 8:21:46 PM Cap-Cengage Learning * Course Modules: QMB2100.00 % /index.html?deploymentid=5933142150846984635358312180/SBN:9781337911009&id=844112103&... INDTAP Q Search this co ork Module 1 Homework Assignment Score: 85.00% Save Submit Assignment for Grading Question 20 of 20 Problem 4.21 OP-E and Stock Price) Check My Work (3 remaining) eBook Problem Walk-Through Ferrell Inc. recently reported net income of $9 million. It has 290,000 shares of common stock, which currently trades at $61 a share. Ferrell continues to expand and anticipates that 1 year from now, its net income will be $15.3 million. Over the next year, it also anticipates issuing an additional 116,000 shares of stock so that 1 year from now it will have 406,000 shares of common stock Assuming Ferrell's price/earnings ratio remains at its current level, what will be its stock price 1 year from now? Do not round Intermediate calculations. Round your answer to the nearest cent. Check My Work remaining) Oy A 96 0 7 8 9 6 4 5 0