5) Holtzman Clothiers's stock currently sells for $28.00 a share. It just paid a dividend of $3.75 a share (i.e., D₀ = $3.75). The dividend is expected to grow at a constant rate of 7% a year.

What stock price is expected 1 year from now? Round your answer to the nearest cent.

$______

What is the required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

______%