1) A perpetual preferred stock pays a dividend of $1.50/year. If the market rate for this perpetual is 4.75%, what is its market price today?

2) The Forever German Bank issued a growing perpetual bond that will pay 33 over the next 12 months and the 33 will increase .5%/year. If the market rate for this growing perpetual 2.7%/year, what is its current market price?