问一道题：NO.PZ201601200500004603

问题如下：

3. The average stock price of High Tech for the three relative valuation ratios (if it is traded at the mean of the three valuations) is closest to:

选项：

$35.21.

$39.38.

$40.56.

解释：

A is correct.

The estimated value is $35.21.

First, calculate the relative valuation ratios for the three comparable companies and their means.

Then apply the means to the valuation variables for High Tech to get the estimated stock price for High Tech based on the comparable companies.

The mean estimated stock price is (32.04 + 37.91 + 35.67)/3 = $35.21.