Use the Information for the Question(s)below

question 11

Multiple Choice

Use the information for the question(s) below.
In November 2009,Perrigo Co.(PRGO) had a share price of $39.20.They had 91.33 million shares outstanding,a market-to-book ratio of 3.76.In addition,PRGO had $845.01 million in outstanding debt,$163.82 million in net income,and cash of $257.09 million.
-Perrigo's book value of equity is closest to:

• A)$952.16 million.
• B)$3580.14 million.
• C)$4168.06 million.
• D)$4425.15 million.

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Definitions:

Scarce Resources

Limited or insufficient resources that cannot fully meet the demand when needed.

Labour

The human effort, both physical and mental, used in the production process.

Competitive Bidding

A purchasing process in which suppliers submit bids to win the rights to fulfill a contract.

Bid Price

The price a buyer is willing to pay for a good, service, or financial instrument.