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FINC 615 Assume that because of unusually bight long-term prospects

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FINC 615 Assume that because of unusually bight long-term prospects

Refer to table 7-5 on page 182. Assume that because of unusually bight long-term prospects, analysts determine the Johnson & Johnson’s P/E ratio in 2011 should be 10 percent above the average high J&J ratio for the last 10 years. (Carry your calculation of the P/E ratio two places to the right of the decimal point in this problem) What would the stock price be based on projected earnings per share of $5.35.(for 2011)