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If you look at stock prices over any year, you will find a high and low stock price for the year. Instead of a single benchmark PE ratio, we now have a high and low PE ratio for each year. We can use these ratios to calculate a high and a low stock price for the next year. Suppose we have the following information on a particular company:

$\backslash$table$[[$Yigh price,Year $1,$Year $2,$Year $3,$Year $4],[$Low price,$$87\mathrm{.}35,$$$99\mathrm{.}01,$$$120\mathrm{.}43,$$$132\mathrm{.}22$