$($Analyzing market value$)$ The balance sheet for Leo's Discount Tire Company shows a book value of stockholders' equity $($book value per share $$ total shares outstanding$)$ of $$23,997,000.$ Furthermore

the firm's income statement for the year just ended has a net income of $$526,000,$ which is $$0\mathrm{.}261$ per share of common stock outstanding. The price$-$earnings ratio for firms similar to Leo's Discount Tire

Company is $19\mathrm{.}23.$

a$.$ What price would you expect Leo's Discount Tire Company shares to sell for?

b$.$ What is the book value per share for Leo's shares?

c$.$ What does the market price and book value per share indicate about the firm?

a$.$ What price would you expect Leo's Discount Tire Company shares to sell for?

The market price per share is $$5\mathrm{.}01.($Round to the nearest cent.$)$

b$.$ What is the book value per share for Leo's shares?

The book value per share is $

$($Round to the nearest cent.$)$