in practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five years or so$,$ then find the terminal stock price using a benchmark PE ratio. Suppose a company just paid a dividend of $$2\mathrm{.}05.$ The dividends are expected to grow at $14$ percent over the next five years. In five years, the estimated payout ratio is $30$ percent and the benchmark PE ratio is $39.$

What is the target stock price in five years?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

What is the stock price today assuming a required return of $14\mathrm{.}5$ percent on this stock?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$