Xenon, Inc. just paid a dividend of $1.25 (Do). This dividend was paid out of $2.00 earnings per share that the company made this year. Dividends are expected to grow at a rate of 20 percent for the next 2 years, then drop to a constant growth rate of 5 percent thereafter. If the required rate of return for this stock 12 percent, what is the company's PE ratio today? Show your work