1. Liquidating dividend of $17 a share. After, the company plans to close its doors permanently. what is the current value of this stock at a discount rate of 16 percent?

2. Upwind Tours just announced that it will pay an annual dividend of $3.69 a share one year from now. Two year from, the company expects pay a $29 a share liquidating dividend. After that, the company will cease operations. What is the current value per share at a discount rate of 12.5%?