CIBC Has 110 Million Shares Outstanding,with a Current Share Price

question 43

Multiple Choice

CIBC has 110 million shares outstanding,with a current share price of $94.50 per share.If the firm's market-to-book ratio is 7.85,what is the firm's book value of equity?

• A)$5.6 billion
• B)$0.9 billion
• C)$10.4 billion
• D)$1.3 billion
• E)$2.75 billion

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Definitions:

Complementary Goods

Products that are used together, where the consumption of one enhances the value or demand of the other.

Inferior Goods

Products whose demand decreases as the income of the consumer increases, contrasting with normal goods.

Substitute Goods

Products or services that can be used in place of one another, satisfying similar needs or desires.

Complementary Goods

are products or services that are used together, where the use or consumption of one increases the demand for the other.