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:

	Year 1	Year 2	Year 3	Year 4
High price	$85.61	$94.99	$116.05	$128.08
Low price	68.33	79.75	84.23	105.86
EPS	6.46	8.88	8.54	10.13

Earnings are expected to grow at 5.5 percent for the next year.

Required:

What are the high and low PE ratios for each year? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

	High PE	Low PE
Year 1
Year 2
Year 3
Year 4

What are the average high and low PE ratios over this period? (Do not round intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).)

	High PE	Low PE
Average

What is the high target stock price in one year? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

High target price

$

What is the low target stock price in one year? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Low target price

$