Castles in the Sand generates a rate of return of 20% on its investments and maintains a plowback ratio of 30. Its earnings this year will be $4 per share. Investors expect a 12% rate of return on the stock. a. Find the price and P/E ratio of the firm. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Price PIE ratio b. Find the price and P/E ratio of the firm if the plowback ratio is reduced to 20. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Price P/E ratio