Question: Valuation Using an Income Statement Multiple JAKKS Pacific Inc., a toy manufacturer, reports net income for the recent twelve months of $14.73 million. JAKKS has

Valuation Using an Income Statement Multiple JAKKS Pacific Inc., a toy manufacturer, reports net income for the recent twelve months of $14.73 million. JAKKS’ has 20.05 million shares outstanding. The industry average PE (using the trailing twelve months earnings) for its competitors is 22.17. Using this industry average PE, estimate the intrinsic value of JAKKS Pacific’s equity.

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