This is my second time posting the same question. Please provide me with the proper answer. Thank you.

Consider Pacific Energy Company and Atlantic Energy, Inc., both of which reported earnings of $965,000. Without new projects, both firms will continue to generate earnings of $965,000 in perpetuity. Assume that all earnings are paid as dividends and that both firms require a return of 14 percent.

a.	What is the current PE ratio for each company? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b.	Pacific Energy Company has a new project that will generate additional earnings of $115,000 each year in perpetuity. Calculate the new PE ratio of the company. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

c.	Atlantic Energy has a new project that will increase earnings by $215,000 in perpetuity. Calculate the new PE ratio of the firm. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)