2019 Value $6.06 Consider the following information which relates to a given company: Item Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share $36.5 $60.53 million 2.93 million $3.2 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 5.83% in the future, or possibly 7.6% for the next 2 years and 5.79% thereafter. In addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.23% to 10.99%. Currently, the risk-free rate is 5.37%. Required: Determine the firm's P/E ratio. (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)