2) Consider the following information which relates to a given company: Item 2019 Value Earnings Per Share $5.2 Price Per Share (Common Stock) $6.4 Book Value (Common Stock Equity) $60.3 Million Total Common Stock Outstanding 2.4 Million Dividend Per Share $4.57 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.97% in the future, or possibly 8.48% for the next 2 years and 6.67% thereafter. In addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.57% to 12.19%. Currently, the risk-free rate is 5.67%. Required: Determine the firm's P/E ratio.