Problem 15-6 (Algo) Underwriting spread [LO15-2] Solar Energy Corporation has $7 million in earnings with two million shares outstanding. Investment bankers think the stock can justify a P/E ratio of 20. Assume the underwriting spread is 5 percent. What should the price to the public be? Note: Do not round intermediate calculations and round your answer to 2 decimal places. Answer is complete but not entirely correct. Price $ 66.50 X