MF Corp. has an ROE of 18% and a plowback ratio of 50%. The market capitalization rate is 12%.

a. If the coming years earnings are expected to be $2.60 per share, at what price will the stock sell? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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