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 2 Year 1 $48.60 High price Low price EPS $57.34 42.18 2.31 Year 3 $69.46 55.85 2.45 Year 4 $74.85 63.18 3.05 37.25 2.02 Earnings are expected to grow at 9 percent for the next year. a. What is the high target stock price in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the low target stock price in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. High target price b. Low target price 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 2 Year 1 $48.60 High price Low price EPS $57.34 42.18 2.31 Year 3 $69.46 55.85 2.45 Year 4 $74.85 63.18 3.05 37.25 2.02 Earnings are expected to grow at 9 percent for the next year. a. What is the high target stock price in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the low target stock price in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. High target price b. Low target price