1) Gee-Gee's is going to pay an annual dividend of $2.05 a share next year. This year, the company paid a dividend of $2 a share. The company adheres to a constant rate of growth dividend policy. What will one share of this common stock be worth six years from now if the applicable discount rate is 12.7 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

3) Three Corners Markets paid an annual dividend of $2.38 a share last month. Today, the company announced that future dividends will be increasing by 2.4 percent annually. If you require a return of 10.6 percent, how much are you willing to pay to purchase one share of this stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)