Innovative Components is a manufacturer of computer parts. The company has a book value of $2,000,000. In addition the company has 400,000 common shares issued and outstanding. Innovative Components is part of the computing industry which has an industry PB ratio of 6.01.

Using industry information, estimate the intrinsic value of Innovative Components' equity per share?

$11.11

$ 30.05

$67.74

$30.50

None of the above