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Blitz Corp. had total sales of $3,130,000 last year and has 109,000 shares of stock outstanding. The benchmark PS is 1.66 times. What stock price would you consider appropriate

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abiolataiwo2015

Answer:

$47.68

Explanation:

Calculation to determine stock price would you consider appropriate

Using this formula

Stock price=(Total sales/Shares of stock outstanding)*Benchmark PS

Let plug to determine

Stock price=($3,130,000/109,000) ×1.66

Stock price=28.72x 1.66

Stock price= $47.68

Therefore the stock price that you would

consider Appropriate is $47.68

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