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Common stock for Startup Company, Inc. stock pays no dividend. In researching other firms in the industry, you find that companies with similar operating characteristics

Common stock for Startup Company, Inc. stock pays no dividend. In researching other firms in the industry, you find that companies with similar operating characteristics and product markets have an average PE ratio of 18. Startup Company estimates that this year it will have a net income of $3,000,000. It has 1,000,000 common shares outstanding. Basing your estimate on comparables (price ratio) analysis, what is a reasonable price per share for Startup Company, Inc

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