1. Mackery, Inc., has an outstanding issue of preferred stock that pays a $7.74 dividend every year. If this issue currently sells for $98.42 per share, what return to market investors require on it currently? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

2.ASD Corp. will pay a dividend of $2.61 on each of its common shares next year. The company has stated that it will maintain a constant growth rate of 4.2% per year forever. If you require 8.6% return to invest in ASD stock (and assuming you agree with ASD's growth projections), how much will you pay per share? (Do not include the dollar sign ($). Round your answer to 2 decimal places (e.g., 32.16).)