Tall Tree Timber Has Net Income of $167,000 for the Year

question 73

Multiple Choice

Tall Tree Timber has net income of $167,000 for the year with 60,000 shares of stock outstanding.Big Trees is a similar firm with similar growth opportunities and it has 75,000 shares of stock outstanding with a market price of $32.20 a share and earnings per share of $1.60.What is the estimated value of Tall Tree Timber?

• A)$1,603,210
• B)$3,360,875
• C)$6,440,000
• D)$2,087,500
• E)$4,008,325

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