Consider Pacific Energy Company and Atlantic Energy, Incorporated, both of which reported earnings of $$961,000.$ Without new projects, both firms will continue to generate earnings of $$961,000$ in perpetuity. Assume that all earnings are paid as dividends and that both firms require a return of $14$ percent.

a$.$

What is the current PE ratio for each company? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$

Pacific Energy Company has a new project that will generate additional earnings of $$111,000$ each year in perpetuity. Calculate the new PE ratio of the company. $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$

Atlantic Energy has a new project that will increase earnings by $$211,000$ in perpetuity. Calculate the new PE ratio of the firm. $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$