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Assuming that book values of debt are close to market values of debt, the total market value of the company is: = $300 + $20 = $320 million. Market value of equity = Total market value - Value of debt
= $320 - (Notes payable + Long-term debt + Preferred stock)
= $320 - ($90 + $30 + $40) = $160 million. Price per share = Market value of equity / Number of shares = $160 / 10 = $16