10a) Red Herrons common stock does not currently pay a cash dividend, but you expect them to begin paying dividends 5 years from today. You expect the first dividend to be $2.89 per share. Thereafter, you expect dividends will increase at an annual rate of 5.8% per year. Given it's risk, you've estimated the fair return on the stock to be 9.3% when measured as an effective annual rate. What do you expect the dividend yield of the stock will be immediately after the 8th payment? Provide an answer as a percentage,

b) WaterMark common stock does not pay dividends. Its current price is $25.41 per share.

Using the last 5 years of daily trading prices, you have computed the stocks daily volatility to be 5.68%.

Determine the stocks annualized variance.

Express your answer, as a percentage, not as a decimal, with at least 4 digits of precision.