David found a company and goes through the investment rounds shown below: Round Series A Series B Series C Series D Source Price Self Angel Venture Capital $1.50 Venture Capital $2.25 $0.50 $1.00 Number of Shares 350,000 400,000 250,000 300,000 He decides to take the company public through an IPO, issuing 2 million new shares. Assuming that he successfully completes the IPO, the net income for the next year is estimated to be $10 million. His banker informs him that the price of shares should be set using average price-earnings ratios for similar businesses, which is 14. What will be the IPO price per share? O A. $25.45 B. $78.48 O C. $42.42 O D. $4.24