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	$	27.43			$	26.32			$	30.42			$	37.01
Low price		19.86				20.18				25.65				26.41
EPS		1.35				1.58				1.51				1.85

Earnings are projected to grow at 9 percent over the next year.

a.	What is your high target stock price over the next year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	What is your low target stock price over the next year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)