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A publicly traded corporation in an industry with an average price-earnings ratio of 20 has the following summary financial results.
Sales 1,000,000
Expenses 500,000
Operating income 500,000
Taxes 300,000
Net income 200,000
Assets 2,500,000
Liabilities 1,000,000
Shareholders’ equity 1,500,000
A competitor wishes to make a bid to acquire the stock of the company. What is the current market value?