14. GHL, Inc., has a dividend payout ratio of 55%. Its cost of equity is 11.2% and its dividend growth rate is 4.9%. If its forward EPS is $6.29, what is your estimate of its stock price? The price per share is $_____. (Round to the nearest cent.)

15. SLYMN Enterprises has a P/E ratio of 11.7 and a dividend payout ratio of 45%. If its equity cost of capital is 13.4%, what growth rate is its P/E ratio consistent with? The growth rate is ____%. (Round to one decimal place.)