20A) Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $2.63, but management expects to reduce the payout by 2.09 percent per year indefinitely. If you require a return of 5.92 percent on this stock, what will you pay for a share today?

20B) Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 1.72 percent for the next three years, with the growth rate falling off to a constant 5.87 percent thereafter. If the required return is 11.71 percent and the company just paid a dividend of $8.53, what is the current share price?