Corporation X, is a private company that designs, manufactures and distributes certain consumer products. In this fiscal year, Corporation X had revenues of $500 Millions of USDs and earnings of $125 of Millions of USDs. Corporation X company has filed a registration statement with the SEC for its IPO. If the industry average Price/Earnings ratio and Price/Revenues ratio for the recent fiscal year were 40 and 0.8 respectively. Estimate the IPO price for Corporation X using the Price/Revenues ratio and assuming that they will issue 22 Million shares.
Must show work.