Company Detox, is a private company that designs, manufactures and distributes certain consumer products

Subject:BusinessPrice:2.84 Bought6

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Company Detox, is a private company that designs, manufactures and distributes certain consumer products. In this fiscal year, Detox had revenues of $401M and earnings of $21M. Detox company has filed a registration statement with the SEC for its IPO. If the industry average MV/Earnings ratio and MV/Revenues ratio for the recent fiscal year were 27.55 and 1.09 respectively. Estimate the IPO price for Detox Company using the  MV/Revenues ratio and assuming that they will issue 33M shares.