28.

If you look at stock prices over any year you will find a high and low stock price for the year Instead of a single benchmark PE ratio, we now have a high and low PE ratio for each year We can use these ratios to calculate a high and a low stock price for the next year Suppose we have the following information on a particular company over the past four years Earnings are projected to grow at 7 percent over the next year What is your high target stock price over the next yeah? (Do not round intermediate calculations, and rounded your answer to 2 decimal places, e.g., 32.16.) What is your low target stock price over the next year? (Do not round intermediate calculations, and rounded to 2 decimal places, e.g., 32.16.)