is the answer $127.60 or $116.24 ?

11 Tiger Golf Supplies has $22 million in earnings with 5 million shares outstanding. Its investment banker thinks the stock should trade at a P/E ratio of 29. Assume there is an underwriting spread of 8.9 percent. What should the price to the public be? (Do not round intermediate calculations and round your answer to 2 decimal places.) 1.66 points Price $ 127.60 02:00:10