$($Analyzing market$$ value$)$ The balance sheet for Leo's Discount Tire Company shows a book value of$$ stockholders' equity$($book value per sharetimestotal shares$$ outstanding$)$ of $$$$23$ comma $828$ comma $000.$Furthermore$,$ the$$ firm's income statement for the year just ended has a net income of $$$$505$ comma $000,$ which is $$$$0\mathrm{.}274$ per share of common stock outstanding. The$$ price$-$earnings ratio for firms similar to Leo's Discount Tire Company is $18\mathrm{.}92.$

a$.$ What price would you expect Leo's Discount Tire Company shares to sell$$ for?

b$.$ What is the book value per share for Leo's $$shares$?$

c$.$ What does the market price and book value per share indicate about the$$ firm?

Question content area bottom

Part $1$

a$.$ What price would you expect Leo's Discount Tire Company shares to sell$$ for?

The market price per share is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$