1) An issue of common stock has just paid a dividend of $ 4. Its growth rate is equal to 3%. If the required rate of return (risk) is 6%, what is its current price?

2) An issue of common stock is expected to pay a dividend of $ 2 at the end of the year. Its growth rate is equal to 3%, and the current share price is $ 54. What is the required rate of return (risk) on the stock?