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Stock Valuation and PE [LO2] Fly Away, Inc

Accounting

Stock Valuation and PE [LO2] Fly Away, Inc., has balance sheet equity of $7.3 million. At the same time, the income statement shows net income of $875,000. The company paid dividends of $345,000 and has 125,000 shares of stock outstanding. If the benchmark PE ratio is 16, what is the target stock price in one year?

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