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28. Stock Valuation and PE LO2) In the previous problem, we assumed that the stock had a single stock price for the year. However, if you look at stock prices over any year, you will find a high and low stock price for the year. Instead of a single benchmark PE ratio, we now have a high and low PE ratio for each year. We can use these ratios to calculate a high and a low stock price for the next year Suppose we have the following information on a particular company over the past four years: Year 1 Year 2 Year 3 Year 4 High price $62.18 $67.29 $7418 $78.27 Low price 40.30 43.18 39.27 46.21 EPS 2.35 2.58 2.73 2.89 28. Stock Valuation and PE LO2] In the previous problem, we assumed that the stock had a single stock price for the year. However, if you look at stock prices over any year, you will find a high and low stock price for the year. Instead of a single benchmark PE ratio, we now have a high and low PE ratio for each year. We can use these ratios to calculate a high and a low stock price for the next year. Suppose we have the following information on a particular company over the past four years: Year 1 Year 2 Year 3 Year 4 High price $62.18 $67.29 $74.18 $78.27 Low price 40.30 43.18 39.27 46.21 EPS 2.35 2.58 2.73 2.89 Earnings are projected to grow at 9 percent over the next year. What are your high and low target stock prices over the next year