Calculate the value of a share of stock under the following conditions:

the investor's required rate of return is $15$ percent,

the expected level of earnings at the end of this year $(E_1)$ is $$4,$

the firm follows a policy of retaining $50$ percent of its earnings,

the return on equity $($ROE$)$ is $14$ percent, and

similar shares of stock sell at multiples of $6\mathrm{.}25$ times earnings per share.

a$.$ The stock price using the P$/$E ratio valuation method is$...$

b$.$ The stock price using the dividend discount model is$...$