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XYZ is a privately held firm whose forecasted earnings per share (EPS) are $5.42, and suppose the average price/earnings (P/E) ratio for a set of

XYZ is a privately held firm whose forecasted earnings per share (EPS) are $5.42, and suppose the average price/earnings (P/E) ratio for a set of similar publicly traded companies is 14.7. Estimate the intrinsic value of XYZ stock.

(Round your answer to the nearest 2 decimal points. For example, if your answer is $12.345, then enter 12.35 in the answer box.)

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