Questions 14-16 are based on the following information. 5 point each, total 15 points As of February 2008, you are researching Jonash Intenational, a hypothetical company subject to cyclical demand for its services. Ionash shares closed at $57.98 on 2 February 2007. You believe the 2003-2006 period reasonably captures average profitability Measure 2007 E$3.03 2006 2005 2004 2003 EPS BV per share ROE $1.85$0.43$2.13$2.55 ES21.20 $16.21 $14.52 $13.17 $11.84 E160% 80% 1.6% 16.3% 21.8% 14. Define normalized EPS 15. Calculate a normalized EPS for Jonash based on the method of historical average EPS and then calculate the PE based on normalized EPS. 16. Calculate a normalized EPS for Jonash based on the method of average ROE and the P/E based on normalized EPS