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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars. 2015 $ 4,000 1,600 500 300 2016 $4,100 1,700 520 350 500 150 400 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 300 400 5,000 2,000 1,000 410 800 550 150 420 350 450 5,800 2,400 600 410 300 * Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that the market value in thousands of dollars) of Fincorp's fixed assets in 2016 is $6,000 and that the value of its long-term debt is only $2,200. In addition, the consensus among investors is that Fincorp's past investments in developing the skills of its employees are worth $2,900. This investment of course does not show up on the balance sheet. What will be the price per share of Fincorp stock? (Assume 500,000 shares of stock outstanding.) (Round your answer to 2 decimal places.) Price per share What was the firm's average tax rate for each year? (Enter your answers as a percent rounded to 1 decimal place.) 2015 2016 Average tax rate
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