Justin Cement Company had the following pattern of earnings per share over the last five years:

Year	Earnings per share
2006	$	4.00
2007		4.20
2008		4.41
2009		4.63
2010		4.86

The earnings per share have grown at a constant rate (on a rounded basis) and is expected to do so in the future. Dividends represent 40 percent of earnings.

(a)

Project earnings and dividends for the next year (2011). (Round your intermediate and final answers to 2 decimal places. Omit the "$" sign in your response.)

(b)	If the required rate of return (Ke) is 13 percent, what is the anticipated stock price (P0) at the beginning of 2011? (Round your intermediate and final answers to 2 decimal places. Omit the "$" sign in your response.)