Sterling Optical and Royal Optical both make glass frames and each is able to generate earnings before interest and taxes of $168,000. The separate capital structures for Sterling and Royal are shown here: Sterling Debt @ 12% Common stock, $5 par Total Common shares Royal $ 840,000 Debt @ 12% 560,000 Common stock, $5 par $1,400,000 Total 112,000 Common shares $ 280,000 1,120,000 $1,400,000 224,000 a. Compute earnings per share for both firms. Assume a 25 percent tax rate. (Round your answers to 2 decimal places.) Earnings per Share Sterling Royal b. In part a, you should have gotten the same answer for both companies' earnings per share. Assuming a P/E ratio of 23 for each company, what would its stock price be? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Stock price