The Southern Companys stock price is $63.70. Its market to book ratio is over 2, so it is well above 1.

Assume that the market value reflects the economic value. Are any of the following likely to help explain the high ratio: 1) property, plant and equipment, 2) lawsuits, or 3) accounts payable?

More than one may contribute to the high ratio. For each of the three explain fully why it is more or less likely to help explain the high market to book ratio.