15A) Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a $2.47 per share dividend 10 years from today and will increase the dividend by 2.07 percent per year thereafter. If the required return on this stock is 5.54 percent, what is the current share price?

15B) Maloney, Inc., has an odd dividend policy. The company has just paid a dividend of $6.28 per share and has announced that it will increase the dividend by $3.33 per share for each of the next five years, and then never pay another dividend. If you require a return of 6.04 percent on the companys stock, how much will you pay for a share today?