$($Market value$$ analysis$)$The balance sheet for Larry Underwood Motors shows a book value of$$ stockholders' equity$($book value per sharetimestotal shares$$ outstanding$)$ of $ $1,369,000.$ Furthermore, the$$ firm's income statement for the year just ended has a net income of $ $505,000,$ which is $ $0\mathrm{.}243$ per share of common stock outstanding. The$$ price$-$earnings ratio for firms similar to Underwood Motors is $18\mathrm{.}55.$

a$.$What price would you expect Underwood Motors shares to sell$$ for?

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

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Part $1$

a$.$What price would you expect Underwood Motors shares to sell$$ for?

The market price per share is $$$$4\mathrm{.}51.($Round to the nearest$$ cent.$)$

Part $2$

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

The book value per share is $$$ $???$ enter your response here. $($Round to the nearest$$ cent.$)$