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:

$\backslash$table$[[$Round$,$Date,Investor,Shares,Share Price $($$$)],[$Series A$,$Feb. $2013,$You,$600,000,1\mathrm{.}00],[$Series B$,$Aug. $2014,$Angels,$1,100,000,1\mathrm{.}50],[$Series C$,$Sept. $2015,$Venture Capital,$2,200,000,2\mathrm{.}75]]$

It is now $2016$ 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 $6\mathrm{.}5$ million new shares through this IPO. Assuming that your firm successfully completes its IPO, you forecast that $2016$ 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 $2016$ forecasted earnings average $19\mathrm{.}2.$ 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 $2016$ forecasted earnings average $19\mathrm{.}2.$ 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.$)$