Estimate the value Patterson's stock price given the following information. Patterson's sales this past year equaled $65 million and are expected to grow by 11% during the current year. Its profit margin is expected to remain at 20% going forward. The company's outstanding shares equals 1 million, and Patterson plans to maintain a 35% payout ratio every year. The P/E ratio in one year is expected to be 18. Use the P/E to estimate the price in one year, and use it and a forecast of the dividend in one year to find Patterson's stock price today. The required rate of return on Patterson's stock is 13 percent. $225.39 $234.33 $183.78 $250.00