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BIO Corporation is a private corporation and as such has no public price for its stock. BIO has 750,000 shares of stock outstanding and

 

BIO Corporation is a private corporation and as such has no public price for its stock. BIO has 750,000 shares of stock outstanding and its recent net earnings were $1,575,000. It competes against four public traded companies. The share price and earnings per share for each of these competing companies are as follows: Share Price EPS Competitor #1 $35.00 $2.50 Competitor #2 $48.75 $3.25 Competitor #3 $69.70 $4.10 Competitor #4 $54.75 $3.65 You have concluded that BIO's stock would trade at the average P/E multiple of its competitors. What would be BIO's share price? (go to 2 decimals)

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