A preferred stock from Duquesne Light Company (DQUPRA) pays $3.60 in annual dividends. If the required return on the preferred stock is 6.50 percent. what?s the value of the stock? (Round OL answer to 2 decimal places.) Value of stock $ Kellogg Co. (K) recently earned a profit of $2.22 earnings per share and has a P/E ratio of 19.35. The dividend has been growing at a 6 percent rate over the past few years. If this growth rate continues, what would be the stock pile in four years if the P/E ratio remained unchanged? What would the price be if the P/E ratio declined to 16 in four years? (Round your answers to 2 decimal places.)