The balance sheet for Larry Underwood Motors shows a book value of stockholders' equity (book value per sharetotal shares outstanding) of $1,366,000. Furthermore, the firm's income statement for the year just ended has a net income of $569,000, which is $0.258 per share of common stock outstanding. The price-earnings ratio for firms similar to Underwood Motors is 18.97.

a.What price would you expect Underwood Motors shares to sell for?_____ (Round to the nearest cent.)

b.What is the book value per share for Underwood's shares?_____