1)The next dividend payment by Savitz, Inc., will be $3.85 per share. The dividends are anticipated to maintain a growth rate of 4 percent forever. If the stock currently sells for $45 per share, what is the required return?

2)

Mannix Corporation stock currently sells for $105 per share. The market requires a return of 8 percent on the firm's stock.

If the company maintains a constant 4 percent growth rate in dividends, what was the most recent dividend per share paid on the stock?