Question content area top Part $1($Analyzing market$$ value$)$ The balance sheet for Leo's Discount Tire Company shows a book value of$$ stockholders' equity$($book value per share times total shares$$ outstanding$)$ of $$$$23,501,000.$Furthermore$,$ the$$ firm's income statement for the year just ended has a net income of $$$$562,000,$ which is $$$$0\mathrm{.}282$ per share of common stock outstanding. The$$ price$-$earnings ratio for firms similar to Leo's Discount Tire Company is $19\mathrm{.}93.$ 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?

Part $1$ a$.$ What price would you expect Leo's Discount Tire Company shares to sell$$ for? The market price per share is $$$$5\mathrm{.}62.($Round to the nearest$$ cent.$)$

Part $2$ b$.$ What is the book value per share for Leo's $$shares$?$ The book value per share is $$$enter your response here $.($Round to the nearest$$ cent.$)$