1. A stock just paid a dividend of $1.70. The dividend is expected to grow at 27.88% for three years and then grow at 4.97% thereafter. The required return on the stock is 11.99%. What is the value of the stock?

2. A stock just paid a dividend of $1.56. The dividend is expected to grow at 24.41% for five years and then grow at 3.35% thereafter. The required return on the stock is 13.50%. What is the value of the stock?