Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022 , while the income statement
The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022 , while the income statement items correspond to revenues or expenses during the year ending in either 2021 or 2022 . All values are in thousands of dollars. * Taxes are paid in their entirety in the year that the tax obligation is incurred. Netfixedassetsarefixedassetsnetofaccumulateddepreciationsincetheassetwasinstalled. Suppose that the market value (in thousands of dollars) of Fincorp's fixed assets in 2022 is $6,570 and that the value of its long-term debt is only $3,130. In addition, the consensus among investors is that Fincorp's past investments in developing the skills of its employees are worth $2,700. This investment, of course, does not show up on the balance sheet. What will be the price per share of Fincorp stock? (Assume 542,000 shares of stock outstanding.) Note: Round your answer to 2 decimal places
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started