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Question 89

Multiple Choice

\quad \quad \quad \quad \quad \quad \quad \quad Windswept, Inc.
\quad \quad \quad \quad \quad \quad \quad 2008 Income Statement
\quad \quad \quad \quad \quad \quad \quad \quad ($ in millions)
Net sales  Less: Cost of goods sold  Less: Depreciation Earnings before interest and taxes  Less: Interest paid Taxable Income Less: Taxes  Net income $8,4507,24040081070$740259$481\begin{array}{c}\begin{array}{lll} \text {Net sales } \\ \text { Less: Cost of goods sold } &&\\ \text { Less: Depreciation } &\\ \text {Earnings before interest and taxes } &\\ \text { Less: Interest paid } &\\ \text {Taxable Income } &\\ \text {Less: Taxes } &\\ \text { Net income } &\\\end{array}\begin{array}{r}\$ 8,450 \\7,240 \\\underline{400} \\ 810 \\\underline{ 70} \\ \$ 740 \\\underline{ 259} \\\underline{ \$ 481}\end{array}\end{array}
   \quad    \quad    \quad    \quad    \quad    \quad    \quad    \quad  Windswept, Inc.    \quad    \quad    \quad    \quad    \quad    \quad    \quad  2008 Income Statement   \quad    \quad    \quad    \quad    \quad    \quad    \quad    \quad   ($ in millions)   \begin{array}{c} \begin{array}{lll}  \text {Net sales  }   \\  \text { Less: Cost of goods sold } &&\\  \text { Less: Depreciation } &\\  \text {Earnings before interest and taxes  } &\\  \text { Less: Interest paid } &\\  \text {Taxable Income  } &\\  \text { Less: Taxes  } &\\  \text {  Net income } &\\ \end{array} \begin{array}{r} \$ 8,450 \\ 7,240 \\ \underline{400} \\  810 \\ \underline{ 70} \\  \$ 740 \\ \underline{ 259} \\ \underline{ \$ 481} \end{array} \end{array}    -Refer to the above TableWindswept, Inc.has 90 million shares of stock outstanding.Its price-earnings ratio for 2008 is 12.What is the market price per share of stock? A) $57.12 B) $59.94 C) $62.82 D) $64.13 E) $65.03
-Refer to the above TableWindswept, Inc.has 90 million shares of stock outstanding.Its price-earnings ratio for 2008 is 12.What is the market price per share of stock?


A) $57.12
B) $59.94
C) $62.82
D) $64.13
E) $65.03

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