Halifax Hatcheries Inc., an unlisted company, operates in the same sector, has common operational characteristics, and the same dividend payout policy, as Saleem Fingerlings Ltd. Saleem's payout ratio is 32%. Salem's year-end earnings were $12,150,000, at which time shares were priced at $10.80 per share with 2.4 million common shares outstanding. Using the dividend yield ratio method, what would be a reasonable estimation of the value of one Halifax Hatcheries Inc.'s common share if it has 1.5 million shares and earnings of $172,500,000?

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The Answer of Halifax Hatcheries Inc., an unlisted company, operates in the same sector, has common operational characteristics, and the same dividend payout policy, as Saleem Fingerlings Ltd. Saleem's payout ratio is 32%. Salem's year-end earnings were $12,150,000, at which time shares were priced at $10.80 per share with 2.4 million common shares outstanding. Using the dividend yield ratio method, what would be a reasonable estimation of the value of one Halifax Hatcheries Inc.'s common share if it has 1.5 million shares and earnings of $172,500,000?