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TargetCo has earnings per share of $3.50, 7 million shares, and a price per share of $49. If companies in the same industry as TargetCo

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TargetCo has earnings per share of $3.50, 7 million shares, and a price per share of $49. If companies in the same industry as TargetCo are trading at multiples of 16 times earnings, what would be one estimate of an appropriate premium for TargetCo? One estimate of an appropriate premium for TargetCo is %. (Enter as a percentage rounded to one decimal place.)

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