Question: Perez Electronics Corp. has reported that its net income for 2016 is $1,276,351. The firm has 420,000 shares outstanding and a PE ratio of 11.2

Perez Electronics Corp. has reported that its net income for 2016 is $1,276,351. The firm has 420,000 shares outstanding and a PE ratio of 11.2 times. What is the firm's share price?

(Round your intermediate and final answer to two decimal places.)

$3.68

$34.05

$36.80

$11.20

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