1. Ingevity Corporation, a specialty chemical company, pays a dividend of $13.25 each year. The company will maintain this dividend for 8 years and then discontinue the dividends forever. The rate of return of return on the stock is 11%. What is the current price of Ingevity stock?

2.Vericel Corporation, a biotechnology company, just paid a dividend of $5.85 per share on its stock. The dividends are expected to grow by 7% per year for 5 years and then reduce to 4% growth thereafter. If the required rate of return is 9%, determine the stocks terminal value after 5 years. What is the current price of the stock?

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