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| Archer, Inc., has 500,000 shares of $10 par value common stock outstanding. For the current year, Archer had earnings per share of $3.2 The market price of Archer’s stock is $36 per share. The average price-earnings ratio for Archer’s industry is 14.When compared to the industry average, Archer’s stock appears to be A. Overvalued by approximately 25%. B. Overvalued by approximately 10%. C. Undervalued by approximately 10%. D. Undervalued by approximately 25%. |