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Garrett Simpoon Investments is evaluating a firm (Garp. Inc.) for recommendation to its clients and tying to evaluate the fum's curent stock price. The firm

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Garrett Simpoon Investments is evaluating a firm (Garp. Inc.) for recommendation to its clients and tying to evaluate the fum's curent stock price. The firm is about to offer its shares to the public and had earnings last year of $3.30 a share, which the analysts believe is expected to gro by 20% next near. Sumi ar m s n the industry are curren y se li tor prace earnings ratios ranz z om ten to fteen times curen per od earnings. However, ese competitor n s are a ready pu uc ent es and have rela vely ow th ex ectatons for ear earnings w at is our estimate(current EPS) of the upper boand alve for the shares of Garp? Round ansrer to the nearest two decimal places

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