1 Long Life Floors just paid an annual dividend of $0.82 a share and plans on increasing future dividends by 2 percent annually. The discount rate is 15 percent. What will the value of this stock be 5 years from today?

2 Over the past 4 years, a local firm has paid annual dividends of $1.62, $1.65, $1.70, and $1.73. What is the arithmetic average dividend growth rate?