Problem 8-36 P/E Model and Cash Flow Valuation (LG8-5, LG8-7) Suppose that a firm's recent earnings per share and dividend per share are $2.80 and $190, respectively. Both are expected to grow at 11 percent. However, the firm's current P/E ratio of 20 seems high for this growth rate. The PE ratio is expected to foll to 16 within five years Round your answers to 3 decimal places) Compute the dividends over the next five years. (Do not round Intermed Years Dividends First year Second year Third year Do not round intermediate calculations. Round your answer to Compute the value of this stock places) Calculate the present value of these cash flows using a 13 percent discount rate (Do not round intermediate calculations. Round your answer to 2 decimal places.)