Professor Diehard discovered an effective antibiotic and patented the drug. He believes that he could...
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Accounting
Professor Diehard discovered an effective antibiotic and patented the drug. He believes that he could sell the patent for $20 million. He then formed a corporation and invested $680,000 in setting up a production plant. There are 2 million shares of stock outstanding. If the professor's belief is correct, what would be the price per share and the book value per share?
Multiple Choice
$9.66; $0.34
$10.00; $0.34
$9.66; $0.68
$10.34; $0.34
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