Analyzing and Computing Average Issue Price and Treasury Stock Cost Assume this is the stockholders' equity section from the Campbell Soup Company balance sheet.

Shareholders' Equity (millions, except per share amounts)	August 3, 2008	July 29, 2007
Preferred stock: authorized 40 shares; non issued	$ --	$ --
Capital stock, $0.0375 par value; authorized 560 shares; issued 542 shares	20	20
Additional paid-in capital	337	331
Earnings retained in the business	7,866	7,072
Capital stock in treasury, 186 shares in 2008 and 163 shares in 2007, at cost	(6,812)	(6,015)
Accumulated other comprehensive loss	(136)	(123)
Total shareholders' equity	$ 1,275	$ 1,285

Assume Campbell Soup Company also reports the following statement of stockholders' equity.

(Millions, except per share amounts)	Capital Stock				Additional Paid-in Capital	Earnings Retained in the Business	Accumulated Other Comprehensive Income (Loss)	Total share-owners' Equity
	Issued		In Treasury
	Shares	Amount	Shares	Amount
Balance at July 29, 2007	542	$ 20	(163)	$ (6,015)	$ 331	$ 7,072	$ (123)	$ 1,285
Net earnings						1,145		1,145
Other comprehensive income (loss)							(13)	(13)
Impact on adoption of FIN 48 Note 10)						(14)		(14)
Dividends ($0.88 per share)						(337)		(337)
Treasury stock purchased			(26)	(903)				(903)
Treasury stock issued under managementincentive and stock options plan			3	106	6			112
Balance at August 3, 2008	542	$ 20	(186)	$ (6,812)	$ 337	$ 7,866	$ (136)	$ 1,275

(f) Campbell Soups stock price was $35.85 on August 1, 2008 (the closest trading day to fiscal year-end). Determine the companys market capitalization that day. Enter answers in millions. Round answer to the nearest million. $Answer

million (g) Calculate and interpret the companys market-to-book ratio at August 1, 2008. Round answer to two decimal places.