1. Answer the below question based upon the following information on Fitbit:

What is the price per share for the Fitbit IPO?

Fitbit			Year0	Year,
RRF	2%	Initial Investment	-$5,000,000
RM	9%	Units of Sales		150,000
Investment Banking Fee or Floating Rate	7%	Price per Unit		$400
Existing Fitbit Shares	2,000,000	Variable Cost per Unit		$250
New IPO Shares	36,500,000	Fixed Cost		$1,000,000
Pre-IPO Value	$91,100,000	Depreciation		$1,500,000
		Tax Rate		35%