Minnesota Manufacturing's balance sheet showed total common equity of $3,000,000 and 400,000 shares of stock...
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Finance
Minnesota Manufacturing's balance sheet showed total common equity of $3,000,000 and 400,000 shares of stock outstanding on 12/31/2019. During 2020, the firm had $540,000 of net income, and it paid out $150,000 in dividends.
What was the book value per share on 12/31/2020, assuming no common stock was issued or retired during 2020?
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