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You are working at a private bank that is considering an IPO. You have pulled financial data on some of your competitors and you want

You are working at a private bank that is considering an IPO. You have pulled financial data on some of your competitors and you want to estimate the value of your firm using the market comparable approach to valuation using the Price to Earnings ratio (Ind. Avg = 15). This year the bank had a net income of $2.9 billion. What is your expected valuation of the bank at the IPO in billions? *

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