New York Tomes Co. (NYT) recently earned a profit of $2.21 per share and has a P/E ratio of 19.70. The dividend has been growing at a 6.75 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 ration increased to 21 in five years? (Round answers to 2 decimal places)