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Justin Cement Company has had the following pattern of earings per share over the last five years: Earnings Year Per Share 20x1 $10.00 20x2 10.60

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Justin Cement Company has had the following pattern of earings per share over the last five years: Earnings Year Per Share 20x1 $10.00 20x2 10.60 20x3 11.24 20X4 11.91 20X5 12.62 The eamings per share have grown at a constant rate (on a rounded basis) and will continue to do so in the future. Dividends represent 40 percent of earnings a. Project earnings and dividends for the next year (2028). (Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your answers to 2 decimal places.) 20x8 Earnings Dividend b. If the required rate of retur (K) is 13 percent, what is the anticipated stock price (Po) at the beginning of 20X67 (Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations, Round your answer to 2 decimal places.) Anticipated stock price

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