You are assigned to determine a fair value for AdvBioTech (ABT) Corporation. You determined that market multiples approach would be the best method to determine a fair value for this company. The total asset value of the company is 700 million dollars and the liability is 250 million dollars. The company has 20 million shares outstanding. ABT also generated 600-million-dollar-revenue in the current year. In a typical year, company's return on equity is 12 percent. You gathered the following three multiples from a close competitor of ABT. The P/E (PriceEarnings) ratio is 22.4. Price to sales (P/S) is 2.57, and price to book (P/B) ratio is 4.17. Based on information given about ABT and its competitor, determine the value of ABT using market multiples approach. Based on your analysis, what is the fair value of ABT using P/E multiple? $60.21 $60.48 $61 $61.56