Question: Given the following data for a hypothetical corporation & its stock. 2021 ACTUAL 2022 FORECAST SALES $425 million DECLINE OF 3% FROM 2021 NET PROFIT

Given the following data for a hypothetical corporation & its stock. 2021 ACTUAL 2022 FORECAST SALES $425 million DECLINE OF 3% FROM 2021 NET PROFIT MARGIN 4.3% 4.1% 15.5 15.7 NUMBER SHARES O/S (MILLIONS) P/E RATIO 21.0 x 21.0 x Using the "less naive" forecast method, determine this stock's forecasted stock price (P2) in 2022. Show all formulas & calculations

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