Paper Express Company Has a Balance Sheet Which Lists $85

question 103

Multiple Choice

Paper Express Company has a balance sheet which lists $85 million in assets, $40 million in liabilities and $45 million in common shareholders' equity. It has 1,400,000 common shares outstanding. The replacement cost of the assets is $115 million. The market share price is $90.
-What is Paper Express's book value per share?

• A)$1.68
• B)$2.60
• C)$32.14
• D)$60.71
• E)none of the above