19. Apollo Utilities, Incorporated paid a dividend of $2.12 yesterday (D0 = $2.12). If this dividend is expected to grow at a constant rate of 6% per year for the next 10 years and shareholders of Apollo use a required rate of return of 11%, what will the expected dividend be in year 10 (D10 = ? )?

(a) $ 6.02 (b) $ 3.79 (c) $42.40 (d) $ 3.45 (e) $44.94

20. Bank of America (BOA) common stock juss paid a dividend of $1.40 (D0=$1.40). What is the value of a share of BOA common stock worth today if dividends are expected to grow at a constant rate of 6% per year (g=6%) and the required rate of return on BOA stock is 14%?

(a) $18.55 (b) $23.33 (c) $10.60 (d) $17.50 (e) $24.73