1. Marcel Co. is growing quickly. Dividends are expected to grow at a rate of 0.15 for the next 4 years, with the growth rate falling off to a constant 0.03 thereafter. If the required return is 0.12 and the company just paid a $1.47 dividend, what is the current share price? Answer with 2 decimals.
2. Apocalyptica Corp. pays a constant $10.11 dividend on its stock. The company will maintain this dividend for the next 5 years and will then cease paying dividends forever. If the required return on this stock is 12 percent, what is the current share price? Answer with 2 decimals.