6. NoGrowth Corporation currently pays a dividend of $0.58 per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firm's equity cost of capital is 14.6%? The stock price is $ (Round to the nearest cent.) 7. Laurel Enterprises expects earnings next year of $4.09 per share and has a 50% retention rate, which it plans to keep constant. Its equity cost of capital is 11%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 5.5% per year. If its next dividend is due in one year, what do you estimate the firm's current stock price to be