MF Corp. has an ROE of 13% and a plowback ratio of 55%. The market capitalization rate is 15%.

a. If the coming years earnings are expected to be $2.30 per share, at what price will the stock sell? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Price_______

b. What price do you expect MF shares to sell for in five years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Price_______