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Use the following information for Seagull Corporation in 2021: Book value at beginning of year $300 million Shares 15 million Share price-to-book ratio at beginning

Use the following information for Seagull Corporation in 2021:

Book value at beginning of year $300 million

Shares 15 million

Share price-to-book ratio at beginning of year 3.2

Pre-tax profits $50 million

Corporate profits tax rate 25%

Dividend payout ratio .4

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