New York Times Co. (NYT) recently earned a profit of $2.91 per share and has a P/E ratio of 20.05. The dividend has been growing at a 6.25 percent rate over the past six years. If this growth rate continues, what would be the stock price in five years if the P/E ratio remained unchanged? What would the price be if the P/E ratio increased to 24 in five years? (Round your answers to 2 decimal places.)
Stock price = ? $
Stock price with new P/E = ? $