1- Suppose a company's most recent free cash flow (i.e., FCF0) was $100 million and is expected to grow at a constant rate of 5 percent.If the company's weighted average cost of capital is 10 percent, what is the current value of operations?

(If the answer is $1,234 million, then enter 1234 without dollar sign, comma, and million.)

2- The company's earnings and dividends are growing at a constant rate of 4%; the last dividend (D0) was $5; and the current stock price is $40.The flotation cost of stock is 10%. What is the flotation premium?

(If the answer is 1.23%, enter 1.23)