The Clipper Sailboat Company is expected to earn $$3$ per share next year. The company will have a return on equity of $17$ percent and the company will grow $4$ percent in the future. The company has a cost of equity of $15$ percent. Given that information, answer the following questions.

What is the value of the company's stock? Do not round intermediate calculations. Round your answer to the nearest cent.

$

What is the present value of the growth opportunity? Do not round intermediate calculations. Round your answer to the nearest cent.

$

Assume that the growth rate is only $2$ percent. What would the appropriate P$/$E multiple be for this stock? Do not round intermediate calculations. Round your answer to two decimal places.