Teardrop, Inc., wishes to expand its facilities. The company
currently has 15 million shares outstanding and no debt. The stock
sells for $21 per share, but the book value per share is $10. Net
income is currently $4.0 million. The new facility will cost $50
million, and it will increase net income by $660,000. Assume a
constant priceAc??oearnings ratio.
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