The market consensus is that Analog Electronic Corporation has an ROE = 10% and a beta of 2.15. It plans to maintain indefinitely its traditional plowback ratio of 1/4. This year's earnings were $3.9 per share. The annual dividend was just paid. The consensus estimate of the coming year's market return is 16%, and T-bills currently offer a 6% return.

Find the price at which Analog stock should sell. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Suppose your research convinces you Analog will announce momentarily that it will immediately change its plowback ratio to 3/4. Find the intrinsic value of the stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)