Agrophonic.com has issued 80 million shares of stock.You own 5 million of them.You also own Agrophonic.com bonds with a present value of $1 million.What percentage of Agrophonic.com do you own?

Question

Quizplus · Accepted Answer

To determine the percentage of Agrophonic.com that you own, we need to calculate the total value of the company, which is the sum of the present value of the bonds and the market value of the stock:
Total value = 1,000,000 + (80,000,000 x stock price)
Since we don't know the stock price, we cannot calculate the exact percentage of the company you own. However, we can make an estimate by assuming the stock price is $1 per share:
Total value = 1,000,000 + (80,000,000 x 1) = 81,000,000
Your ownership percentage would be:
(5,000,000 / 81,000,000) x 100% = 6.17%
This is closest to answer choice C, which is 6.3%.