Question: this question has been previously posted but the answer provided was wrong. please help! Solar Energy Corp. has $4 million in earnings with 4 million

this question has been previously posted but the answer provided was wrong. please help!

Solar Energy Corp. has $4 million in earnings with 4 million shares outstanding. Investment bankers think the stock can justify a P/E ratio of 21. Assume the underwriting spread is 5 percent. What should the price to the public be? (Do not round intemediate calculations and round your answer to 2 decimal places.) $3.00 +/-1% O $29.00 +/-1% O $21.00 +/-1% O $167.00 +/-1%

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