At year-end, ABC Company balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million, and 1,000,000 shares of common stock outstanding. Next year, ABC is projecting that it will have net income of $1.5 million. If the average P/E multiple in ABC's industry is 15, what should be the price of ABC's stock? $25.00 None of the given answers is correct $23.99 $22.50 $27.64