question about normalizing EPS and PE, Level 2, page 383 in CFAI material

CFA Level II Equities
#1

Hi fellow Level 2ers and supporters,

A question: I can’t, for the life of me, figure out why the share price in Example 4 (in solutions 1 and 2) is $18.21, found on pages 383-384. If someone can help me, I’d be most grateful. I showed it to a friend and he couldn’t figure it out either. Thanks!

#2

if you posted the question here - instead of a reference to a page # - you might get more help from folks who do not have the current curriculum to refer back to.

thanks