.53

The Coastal Catboat Company is expected to earn $3.42 per share next year. The company will have a return on equity of 16.5% and the company is expected to grow at an annual rate of 4% into the foreseeable future. The company has a cost of equity of 14.1%. Given this information, what is the forward P/E Multiple? Do not round intermediated calculations, but round your final answer to two decimal places