Suppose that:

r = required reserve ratio = 0.15
c = {C/D} = currency ratio = 0.45
e = {ER/D} = excess reserve ratio = 0.05
MB = the monetary base = $3,000 billion

Given that the formula for the money multiplier is (1 + c)/(r + e + c), find the value for M, the money supply.

Marcus nurseries inc.'s 2005 balance sheet showed total common equity of $2,050,000, which included $1,750,000 of retained earnings. the company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. if the firm had net income of $250,000 in 2006 and paid out $100,000 as dividends, what would its book value per share be at the end of 2006, assuming that it neither issued nor retired any common stock?