In practice, a common way to value a share of stock when a company pays dividends is to value the dlidends over the next five years or so, then find the "terminaf" stock price using a benchmark PE ratlo. Suppose a company just pald a dividend of $1.18. The dividends are expected to grow at 13 percent over the next five years. The company has a payout ratio of 45 percent and a benchmark PE of 20 . The required return is 13 percent. a. What is the target stock price in five years? (Do not round intermedlate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the stock price today? (Do not round intermedilate calculatlons and round your answer to 2 decimal places, e.g., 32.16.)