89. An analyst gathers the following information about a company:
Balance Sheet
Assets Liabilities and Shareholders’ Equity
Cash $ 5,000 Accounts payable $ 10,000
Accounts receivable 15,000 Notes payable 15,000
Inventory 25,000 Long-term debt 40,000
Net fixed assets 80,000 Common shareholders’ equity 60,000
Total assets $125,000 Total liabilities and equity $125,000
Additional Information
Number of outstanding shares 7,000
Market value of long-term debt $45,000
Market value of accounts receivable and inventory 90% of reported values
Net fixed assets 120% of reported value
Accounts payable and notes payable Same as the reported value
Using asset-based valuation approach, the estimated value per share is closest to:
A. $ 9.57.
B. $10.29.
C. $11.00.
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