a firm just reported earnings of $$2\mathrm{.}22$ per share, which are expected to grow $10$ percent. If the stocks beta is $1\mathrm{.}4,$ the risk free rate is $5\%,$ the expected market return is $12\%,$ and a mean ratio of share price to expected earnings of competitors in the same industry is $15,$ the valuation of the firms shares based on the price$-$earnings method is$.$ ANS is $36\mathrm{.}63,$ please lay out all steps clearly.