Company Detox, is a private company that designs, manufactures and distributes certain consumer products. In this fiscal year, Detox had revenues of $411M and earnings of $15M. Detox company has filed a registration statement with the SEC for its IPO. If the industry average MV/Earnings ratio and MV/Revenues ratio for the recent fiscal year were 31.56 and 0.56 respectively. Estimate the IPO price for Detox Company using the MV/Revenues ratio and assuming that they will issue 24M shares.