7. A European subsidiary of Callaway earned 20,000,000 over two consecutive years. The weighted average rate of the Euro in the first year was $1.20, but declined to $1.10 in the second year. Assuming Callaway maintains a price to earnings ratio of 18 for both years and there are 1 million shares outstanding, what would be the equivalent stock price of the cash-flow in each respective year? (use text box for work and support) (5 pts.)