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Question(s) / Instruction(s):

Air has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long-term debt, and $6 billion in common equity. It has 800 million shares of common stock outstanding, and its stock price is $32 per share. What is company's market to book ratio?

a)      3.76

b)      4.27

c)       6.32

d)      7.50

e)      9.00

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