(Market-value ratios) Garret Industries has a price/earnings ratio of 21.55X.

a. If Garret's earnings per share is $1.33, 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 $9.04.

Part 1

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

Part 2

b. Garret's price/book ratio is enter your response hereX. (Round to two decimal places.)