1) A company just paid a dividend of $3.75 per share. The company plans to increase its dividend by 14% next year and then reduce its dividend growth rate by 5% per year until it reaches the industry average of 4% dividend growth, after which it is expected the company will maintain a constant growth rate forever. The stock has a required return of 13%. What dividend amount is this company's stock expected to pay 3 years from now?

2) A company just paid a dividend of $3 per share. The company plans to increase its dividend by 12% the next 2 years, after which it is expected the company will maintain a constant dividend growth rate of 3% forever. The stock has a required return of 17%. What will a share of the company's stock sell for 2 years from today?