$5.$a$.$ A company is expected to pay a dividend of $$1\mathrm{.}40$ per share next year. The dividends are expected stay the same indefinitely. If the required return on similar investments is $8\%,$ what is the current price of the stock?

$5.$b$.$ Another company is expected to pay a dividend of $$1\mathrm{.}40$ per share next year. The dividends are expected to grow at $3\%$ per year indefinitely. If the required return on similar investments is $8\%,$ what is the current price of the stock?