1. Edelman Engines has $14 billion in total assets. Its balance sheet shows $1.4 billion in current liabilities, $7 billion in long-term debt, and $5.6 billion in common equity. It has 900 million shares of common stock outstanding, and its stock price is $24 per share. What is Edelman's market/book ratio? Round your answer to two decimal places.?
2. You are given the following information: Stockholders' equity as reported on the firm’s balance sheet = $6.5 billion, price/earnings ratio = 9.5, common shares outstanding = 36 million, and market/book ratio = 2.7. Calculate the price of a share of the company's common stock. Round your answer to the nearest cent.?