Lauren Entertainment, Inc., has an 18 percent annual growth rate compared to the market rate of 9 percent. If the market multiple is 16, determine P/E ratios for Lauren Entertainment, Inc., assuming its dividend yield is zero, its beta is 1.00 and you feel it can maintain its superior growth rate for:

1. the next 14 years. Do not round intermediate calculations. Round your answer to two decimal places.

2. the next 7 years. Do not round intermediate calculations. Round your answer to two decimal places.