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What should the price to the public be

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Tiger Golf Supplies has $19 million in earnings with 6 million shares outstanding. Its investment banker thinks the stock should trade at a P/E ratio of 22. Assume there is an underwriting spread of 9.4 percent.

What should the price to the public be? (Do not round intermediate calculations and round your answer to 2 decimal places.)

Reference no: EM133060784

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