Estimate the value of a privately-held firm based on the following information: stock price of a comparable firm = $20.00; net income of a comparable firm = $20,000; number of shares outstanding for the comparable firm = 10,000; and earnings per share for the target firm = $3.00.

a. $10.00

b. $20.00

c. $30.00

d. $40.00

e. $50.00

Please Explain and Show Work!