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The Charleston Company is a relatively small,privately owned firm.Last year the company had after-tax income of $15,000,and 10,000 shares were outstanding.The owners were trying to determine the market value for the stock,prior to taking the company public.A similar firm which is publicly traded had a price/earnings ratio of 5.0.Using only the information given,estimate the market value of one share of Charleston's stock.
Popular Sovereignty
The principle that the authority of a state and its government are created and sustained by the consent of its people, through their elected representatives.
Republican Platform
The set of policies, values, and ideals endorsed and promoted by the Republican Party in the United States.
Upper South
A geographic term referring to the northernmost states of the Southern United States, characterized by a mix of industrial and agricultural economies.
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