If this growth rate continues, what would be the stock price in four years if the P/E ratio remained unchanged? What would the price be if the P/E ratio declined to 16 in four years?
Kellogg Co. (K) recently earned a profit of $2.22 earnings per share and has a P/E ratio of 19.35. The dividend has been growing at a 6 percent rate over the past few years.
(Round your answers to 2 decimal places.)