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Problem 3-9 Market versus Book Values (LO2) The founder of Alchemy Products Inc. discovered a way to turn gold into lead and patented this new technology. He then formed a corporation and invested $1,800,000 in setting up a production plant. He believes that he could sell his patent for $48 million. a. What is the book value of the firm? (Enter your answer in dollars not in millions.) b. What is the market value of the firm? (Enter your answer in dollars not in millions.) c. If there are two million shares of stock in the new corporation, what would be the book value per share? (Round your answer to 2 decimal places.) d. If there are two million shares of stock in the new corporation, what would be the price per share? (Round your answer to 2 decimal places.) a. Book value b. Market value c. Book value per share d. Price per share Butterfly Tractors had $19.50 million in sales last year. Cost of goods sold was $9.10 million, depreciation expense was $3.10 million, interest payment on outstanding debt was $2.10 million, and the firm's tax rate was 21%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow if depreciation were increased by $2.10 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) f. What would be the impact on cash flow if depreciation was $2.10 million and interest expense was $3.10 million? (Enter your numeric answer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) a. Net income million b. Net cash flow million c. Net income would be million Cash flow would be by by by million f. Cash flow would be million