(Related to Checkpoint 102) (Relative valuation of common stock) Using the PE ratio approach to valuation, calculate the value of a share of stock under the following conditions . the investor's required rate of return is 16 percent . the expected level of earnings at the end of this year (Ex) 58. the firm follows a policy of retaining 60 percent of its earnings the return an equity (ROE) is 13 percent and similar shares of stock sell at multiples of 4.878 times camins per share Now show that you get the same answer using the discounted dividend model a. The stock price using the P/E ratio valuation method is $ Round to the nearest cont.)