Three years ago, you founded Outdoor Recreation, Inc., a retailer specializing in the sale of equipment and clothing for recreational activities such as camping, skiing, and hiking. So far, your company has gone through three funding rounds: $.$ It is now $2023$ and you need to raise additional capital to expand your business. You have decided to take your firm public through an IPO.

You would like to issue an additional $5\mathrm{.}0$ million new shares through this IPO. Assuming that your firm successfully completes its IPO, you forecast that $2023$ net income will be $$6\mathrm{.}5$ million.

a$.$ Your investment banker advises you that the prices of other recent IPOs have been set such that the P$/$E ratios based on $2023$ forecasted earnings average $19\mathrm{.}6.$ Assuming that your IPO is set at a price that implies a similar multiple, what will be your IPO price per share?

b$.$ What percent of the firm will you own after the IPO?

a$.$ Your investment banker advises you that the prices of other recent IPOs have been set such that the P$/$E ratios based on $2023$ forecasted earnings average $19\mathrm{.}6.$ Assuming that your IPO is set at a price that implies a similar multiple, what will be your IPO price per share?

The IPO price will be $ per share. $($Round to the nearest cent.$)$

b$.$ What percent of the firm will you own after the IPO?

Data table

After the IPO, you will own $\%$ of the firm. $($Round to one decimal place.$)$

$\backslash$table$[[$Round$,$Date,Investor,Shares,Share Price $($$$)],[$Series A$,$Feb. $2020,$You,$400,000,0\mathrm{.}50],[$Series B$,$Aug. $2021,$Angels,$1,200,000,1\mathrm{.}50],[$Series C$,$Sept. $2022,$Venture Capital,$2,300,000,3\mathrm{.}50]]$