Question: SmartCar is a privately - owned U . S . manufacturer of cars. The owners want to take the company public through an initial public

SmartCar is a privately

-

owned U

.

.

manufacturer of cars. The owners want to take the company public through an initial public offering. They hired an investment bank to help them with the offering. The bankers have collected the following information about SmartCar and comparable companies in the same industry:

What is the average price

-

-

earnings ratio of the comparable companies?

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