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	$ 62.18	$ 67.29	$ 74.18	$ 78.27
Low price	40.30	43.18	39.27	46.21
EPS	2.35	2.58	2.73	2.89

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.)