Company Book Value Calculation
I am asking anyone who can help me with my lesson, I did all the calculations I know but I could come up to?
the correct answer. Please help me.
Paper company bought 36,000 shares of Glass Corp. for $5,100,000. Glass Corp. has a total of 120,000 shares with 8 years remaining useful life of its assets. Glass Corp. 1/11/11 identifiable net assets book value was $7,000,000 and the fair value was $10,000,000. The difference between Glass Corp. fair value and book value is attributed to $1,800,000 of land, and the remainder to the depreciable assets. No good will. During 2011, Glass Corp. has $600,000 net income, and paid dividend of $360,000, and the market price of the share was $80.
A- $3,200,000
B- $3,180,000
C-3,027,000
D- 3,135,000
Do we have to come up with the question as well as the answer? I’m too lazy to think about what the question might be.
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