Kellogg Co. (K) recently earned a profit of $3.02 earnings per share and has a P/E ratio of 19.75. The dividend has been growing at an 8 percent rate over the past few years.

If this growth rate continues, what would be the stock price in four years if the P/E ratio remained unchanged? What would the price be if the P/E ratio declined to 16 in four years?(Round your answers to 2 decimal places.)

Stock price	$
Stock price with new P/E	$