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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,650 Cost of goods sold 7,750

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $ 9,650
Cost of goods sold 7,750
Depreciation 350
Earnings before interest and taxes $ 1,550
Interest paid 92
Taxable income $ 1,458
Taxes 437
Net income $ 1,021

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $ 240 $ 255 Accounts payable $ 1,450 $ 1,687
Accounts rec. 1,030 930 Long-term debt 1,030 1,218
Inventory 1,700 1,620 Common stock 3,280 2,990
Total $ 2,970 $ 2,805 Retained earnings 610 860
Net fixed assets 3,400 3,950
Total assets $ 6,370 $ 6,755 Total liab. & equity $ 6,370 $ 6,755

Windswept, Inc., has 510 million shares of stock outstanding. Its priceearnings ratio for 2017 is 20. What is the market price per share of stock?

Choices:

$33.73

$40.04

$20.02

$60.78

$23.92

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