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O nts 02:05:57 Connect Only Problem 8-12 P/E Ratio Model and Future Price (LG8-7) New York Times Company (NYT) recently earned a profit of

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O nts 02:05:57 Connect Only Problem 8-12 P/E Ratio Model and Future Price (LG8-7) New York Times Company (NYT) recently earned a profit of $3.21 per share and has a P/E ratio of 19.45. The dividend has been growing at a 6.50 percent rate over the past six years. If this growth rate continues, what would be the stock price in five years if the P/E ratio remained unchanged? What would the price be if the P/E ratio increased to 22 in five years? Note: Round your answers to 2 decimal places.

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