Check 12 Castles in the Sand generates a rate of return of 12% on its investments and maintains a plowback ratio of 0.40. Its earnings this year will be $3 per share. Investors expect a rate of return of 10% 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.) 15 points Skipped Price P/E ratio Book HO Print References b. Find the price and P/E ratio of the firm if the plowback ratio is reduced to 0.30. (Do not round intermediate calculations, Round your answers to 2 decimal places.) Price P/E ratio