Question: Valuation Using a Balance Sheet Multiple McDonald's Inc. reports total book value of $620 million and common shares outstanding of 853.36 million. The average PB

Valuation Using a Balance Sheet Multiple McDonald's Inc. reports total book

Valuation Using a Balance Sheet Multiple McDonald's Inc. reports total book value of $620 million and common shares outstanding of 853.36 million. The average PB ratio for restaurant companies is 10.9. Using the industry average PB ratio, estimate the intrinsic value of McDonald's equity. Round answer to two decimal places. Check

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