MF Corporation has an ROE of $12\%$ and a plowback ratio of $60\%.$ The

market capitalization rate is $10\%.$

Required:

a$.$ If the coming year's earnings are expected to be $$1\mathrm{.}50$ per share, at

what price will the stock sell?

Note: Do not round intermediate calculations. Round your answer

to $2$ decimal places.

b$.$ What price do you expect MF shares to sell for in three years?

Note: Do not round intermediate calculations. Round your answer

to $2$ decimal places.