Please answer A and B! You don't have to show work.

The market consensus is that Analog Electronic Corporation has an ROE =8% and a beta of 1.35. It plans to maintain indefinitely its traditional plowback ratio of 1/4. This year's earnings were $2.2 per share. The annual dividend was just paid. The consensus estimate of the coming year's market return is 16%, and T-bills currently offer a 6% return. a. Find the price at which Analog stock should sell. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Suppose your research convinces you Analog will announce momentarily that it will immediately change its plowback ratio to 3/4. Find the intrinsic value of the stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)