24. The stock of Cabbor, Incorporated is trading at $50.00 per share. The company just paid a dividend of $7.00 per share that is, D. - 7.00). The growth rate in dividends is projected to be 6 percent per year forever. What is Cabbor's cost of equity capital (that is, compute the required rate of return on the stock:)? 25. Phillips, Inc. just paid a dividend of $3.25 per share on its common stock (that is, D. - 3.25). Investors expect the dividend to grow at 40% in years 1 and 2, they expect the dividend to grow at 20% in year 3 and they expect that all future dividends (that is, dividends in years 4, 5, ..., infinity) to grow at a constant rate of 5% per year. If the cost of capital for Phillips, Inc. stock is 14%, what is the current price of the stock