Response to the following questions:
1. A company paid dividends of $1.00 per share in 2003, and just announced that it will pay $2.21 in 2010. Estimate the compound annual growth rate of the dividends.
2. A company reported net income in 2006 of $350 million. In 2010, the company expects net income to be $441.7 million. Estimate the annual compound growth rate of net income.