(Market-value ratios) Garret Industries has a price/earnings ratio of 13.28X.

a. If Garret's earnings per share is $1.11, what is the price per share of Garret's stock?

b. Using the price per share you found in part a, determine the price/book ratio if Garret's equity book value per share is $9.05.

a. The price per share of Garret's stock is $____. (Round to the nearest cent.)