Analyzing market$$ value$)$ The balance sheet for Leo's Discount Tire

Company shows a book value of$$ stockholders' equity$($book value per share times

total

shares$$ outstanding$)$ of $$$$23$ comma $525$ comma $000$

$.$

$$Furthermore$,$ the$$ firm's income statement for the year just ended has a net income of $$$$527$ comma $000$

$,$

which is $$$$0\mathrm{.}246$

per share of common stock outstanding. The$$ price$-$earnings ratio for firms similar to Leo's Discount Tire

Company is $18\mathrm{.}24$

$.$

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?

Question content area bottom

Part $1$

a$.$ What price would you expect Leo's Discount Tire

Company shares to sell$$ for?

The market price per share is $$$enter your response here

$.$

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