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You are given the following information: Stockholders' equity as reported on the firms balance sheet = $4 billion, price/earnings ratio = 11, common shares outstanding

You are given the following information: Stockholders' equity as reported on the firms balance sheet = $4 billion, price/earnings ratio = 11, common shares outstanding = 80 million, and market/book ratio = 2.1. Calculate the price of a share of the company's common stock. Round your answer to the nearest cent.

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