The balance sheet for Larry Underwood Motors shows a book value of$$ stockholders' equity$($book value per share$\backslash$times total shares$$ outstanding$)$ of $$1,359,000.$ Furthermore, the$$ firm's income statement for the year just ended has a net income of $$572,000,$ which is $$0\mathrm{.}315$ per share of common stock outstanding. The$$ price$-$earnings ratio for firms similar to Underwood Motors is $18\mathrm{.}73.$

a$.$What price would you expect Underwood Motors shares to sell$$ for?

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

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Part $1$

a$.$What price would you expect Underwood Motors shares to sell$$ for?

The market price per share is $$$enter your response here. $($Round to the nearest$$ cent.$)$