1. You just purchased a bond that matures in 15 years. The bond has a face value of $1,000 and has an 8% annual coupon. The bond has a current yield of 8.37%. What is the bond's yield to maturity? Round your answer to two decimal places.

2. Boehm Incorporated is expected to pay a $2.60 per share dividend at the end of this year (i.e., D1 = $2.60). The dividend is expected to grow at a constant rate of 10% a year. The required rate of return on the stock, rs, is 17%. What is the estimated value per share of Boehm's stock? Round your answer to the nearest cent.