Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,850 Cost of goods sold 7,350

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,850 Cost of goods sold 7,350 Depreciation 310 Earnings before interest and taxes $ 1,190 Interest paid 74 Taxable income $ 1,116 Taxes 335 Net income $ 781 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 160 $ 175 Accounts payable $ 1,220 $ 1,497 Accounts rec. 940 840 Long-term debt 960 1,138 Inventory 1,540 1,540 Common stock 3,230 2,910 Total $ 2,640 $ 2,555 Retained earnings 470 720 Net fixed assets 3,240 3,710 Total assets $ 5,880 $ 6,265 Total liab. & equity $ 5,880 $ 6,265 Windswept, Inc., has 310 million shares of stock outstanding. Its priceearnings ratio for 2017 is 20. What is the market price per share of stock?

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