a$.$ Your investment banker advises you that the prices of other recent IPOs have been set such

that the P$/$E ratios based on $2016$ forecasted earnings average $21\mathrm{.}6.$ Assuming that your IPO is

set at a price that implies a similar multiple, what will be your IPO price per share?

The IPO price will be $$15\mathrm{.}75$ per share. $($Round to the nearest cent.$)$

b$.$ What percent of the firm will you own after the IPO?

After the IPO, you will own $\%$ of the firm. $($Round to one decimal place.$)$