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Tiger Golf Supplies has $24 million in earnings with 5 million shares outstanding. Its investment banker thinks the stock should trade at a P/E ratio

Tiger Golf Supplies has $24 million in earnings with 5 million shares outstanding. Its investment banker thinks the stock should trade at a P/E ratio of 23. Assume there is an underwriting spread of 6.8 percent. What should the price to the public be? (Do not round intermediate calculations and round your answer to 2 decimal places.)

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