Company detox, is a private company that designs, manufactures and distributes certain consumer products. in this fiscal year detox had revenues of 389M and earnings of 15M. Detox company has filed a registration statement with the SEC for its IPO. If the industry average MV/earnings and MV/revenues ratio for the recent fiscal year were 32.25 and 0.82 respectively. Estimate the IPO price for detox company using the MV, earnings ratio and assuming that they will issue 29M shares.