Use the Following Information for ECE Incorporated

question 7

Multiple Choice

Use the following information for ECE incorporated:
Assets $200 million
Shareholders' Equity $100 million
Sales $300 million
Net Income $15 million
Interest Expense $2 million
-If ECE's shares are currently trading at $24.00 and ECE has 25 million shares outstanding, then ECE's market-to-book ratio is closest to:

• A)0.24
• B)4
• C)6
• D)30

Interpret and solve given mathematical problems in financial contexts accurately.

Understand the effects of compounding interest on savings and loans calculations.

Develop skills necessary for precise and analytical mathematical reasoning in finance.

Apply mathematical concepts to solve real-life financial problems effectively.