I need help with b

Castles in the Sand generates a rate of return of 10% on its investments and maintains a plowback ratio of 0.50. Its earnings this year will be $3 per share. Investors expect a rate of return of 8% 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.) Answer is complete and correct. Price $50.00 P/E ratio 16.67 Price $ 50.00 P/E ratio 16.67 b. Find the price and P/E ratio of the firm if the plowback ratio is reduced to 0.40. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Price $ 40.00 x P/E ratio 13.33 X