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Tally Zoe Inc ( TZI ) is about to go public with a float of 5 million shares. The underwriters have found that the average

Tally Zoe Inc (TZI) is about to go public with a float of 5 million shares. The underwriters have found that the average P/E ratio for firms in the same industry as TZI is 19X and the average Price to Revenue multiple is 0.725X. TZI has earnings of $325 and revenue of $12.75 million. What is the range of IPO prices implied by this information?

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