Problem 8-26 P/E Ratio Model and Future Price (LG8-7) New York Times Co. (NYT) recently earned a profit of $2.31 per share and has a P/E ratio of 19.75. The dividend has been growing at a 7.75 percent rate over the past six years. If this growth rate continues, what would be the stock price in six years if the P/E ratio remained unchanged? What would the price be if the P/E ratio increased to 22 in six years? (Round your answers to 2 decimal places.) Stock price Stock price with new P/E