Using the P/E ratio appriach to valuation, calculate the value of a share of stock under the following conditions
-the investor's required rate of return is 13%
- the expected level of earnings at the end of this year is $8
-the firm follows a policy of retaining 40% of its earnings
-the return on equity is 15%
-similar shares of stock sell at multiples of 8.571 times earnings per share
ROUND TO THE NEAREST CENT
-the price of the stock using the P / E ratio valuation method is? $
-the stock price using the dividend discount model is? $