an investor estimates that

An investor estimates that next year's sales for Dursley's Hotels, Inc., should amount to about $98 million. The company has 3.6 million shares outstanding, generates a net profit margin of about 8.8%, and has a payout ratio of 53%. All figures are expected to hold for next year. Given this information, compute the following. a. Estimated net earnings for next year. b. Next year's dividends per share. Note: EPS is an intermediate computation not required as an input below. However, round your computation of EPS to at least two decimal places. c. The expected price of the stock (assuming the P/E ratio is 23.3 times eamings) d. The expected holding period return (latest stock price: $39.45 per share). Note. The dividend will be paid during the holding period. Note: The dividend will be paid during the holding period. a. The estimated net earnings for next year is $ million. (Round to three decimal places) b. The dividends per share for next year is $ (Round to the nearest cent) c. Assuming the P/E ratio is 23.3 times earnings, the expected price of the stock is $ (Round to the nearest cent.) d. The expected holding period return is \%. (Round to two decimal places.)