CHAPTER 7 QUIZ 83 Pacific Storage expects to have earnings per share of $5.25 in 2002 and $5.65 in 2003. The average price-earnings ratio for General's industry is 10X (times). Pacific Storage has traditionally had a P/E ratio 12% higher than the industry and in 2003 it is expected to be 15 percent higher than the industry. Calculate the expected price of Pacific's stock price in 2002 and 2003 based on expectations of EPS and P/E ratios.
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