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Atlantic Northern Inc. just reported a net income of $12,000,000, and its current stock price is $31.25 per share. Atlantic Northern is forecasting an increase of 25% for its net income next year, but it also expects it will have to issue 1,500,000 new shares of stock (raising its shares outstanding from 5,500,000 shares to 7,000,000 shares). If Atlantic Northern s forecast turns out to be correct and its price-to-earnings (P/E) ratio does not change, what does management expect its stock price to be one year from now? a) $30.68 per share b) $31.25 per share c) $23.01 per share d) $38.35 per share
Apr 02 2020 Read more Less More
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