Some years ago, you founded Outdoor Recreation, a retailer specialising in the sale of equipment and clothing for recreational activities such as camping, skiing, and bushwalking. So far, your company has gone through three funding rounds: Round Date Investor Shares Share Price Class A Feb 2015 You $1.2 Class B Aug 2018 Angels 350,000 1,800,000 2,200,000 S2.1 Class C Sep 2020 Venture Capital $3.4 It is now 2021 and you need to raise additional capital to expand your business. You have decided to take your firm public through an IPO. You would like to issue an additional 6, 200,000 new shares through this IPO. Assuming that your firm successfully completes its IPO, you forecast that 2021 earnings will be $7,700,000. A) Your investment banker advises you that comparable firms have been valued at 29 times earnings in other recent IPOs. Assuming that your IPO is set at a valuation that implies the same earnings multiple, what will your IPO price per share be? The IPO price will be $ per share. (Round to the nearest cent.) HINT: The number above represents the price/earnings ratio between the value of equity and earnings (You may recall the concept of multiples valuation from COMM1140). B) What percent of the firm will you own after the IPO? After the IPO, you will own % of the firm. (Round to two decimal places.)