Three years aga, you founded Outdoot Recreation, Inc, a retales specializing in the sale of equipment and clothing for recreational activities such as camping. sking, and hiking. So fat, your compary has gone through three funding rounds: Th is currently 2012 and you need to thise additional capital to expand your business. You have decided to take your fim public though an ipo. You would like to issue an additionil 6.5 million new shares through this IPO. Assuming that your firm succosstully complates its IPO, you forecast that 2012 ret income will be \$sc 0 milion. a. Your investment banker advises you that the prices of other recent IPOs have been set such that the P.E ratios based on 2007 forecasted aarnings average 22 . x. Assuming that your tPO is set at a price that inples a similar multile, what will your lPO price per share be? b. What percent of the firm will you own aher the IPO? 2. Your investment banker advises you that the prices of other recent 1POs have been set such that the P/E ration based on 2012 formcasted aamings average 22.0. Assuming that your IPO it set at a price that implies a similar muliple. what will your IPO price per ahare be? The total value of the firm at the HPO is $ millon. (Round to the nearest integec.)