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Tiger Golf Supplies has $ 2 2 million in earnings with 8 million shares outstanding. Its investment banker thinks the stock should trade at a

Tiger Golf Supplies has $22 million in earnings with 8 million shares outstanding. Its investment banker thinks the stock should trade at a P/E ratio of 28. Assume there is an underwriting spread of 10.9 percent.
What should the price to the public be?
Note: Do not round intermediate calculations and round your answer to 2 decimal places.

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