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29. Ravencorp's most recent dividend was $2.00 per share. The dividend is expected to increase according to the following schedule: Year 1: increase by 50%

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29. Ravencorp's most recent dividend was $2.00 per share. The dividend is expected to increase according to the following schedule: Year 1: increase by 50% Beginning in Year 2, the dividend is expected to grow by a constant rate of 5.00% per year. The required return on Ravencorp's stock is 12.00%. Calculate the price (P) of the stock today. Round to the nearest penny and DO NOT use the $ sign. (4 points) 30. Ravencorp's most recent dividend was $2.00 per share. The dividend is expected to increase according to the following schedule: Year 1: increase by 15% Year 2: increase by 10% Beginning in Year 3, the dividend is expected to grow by a constant rate of 3.00% per year. The required return on Ravencorp's stock is 8.00%. Calculate the price (Pc) of the stock today. Round to the nearest penny and DO NOT use the $ sign. (5 points)

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