7. A7X Corp. just paid a dividend of $1.35 per share. The dividends are expected to grow at 40 percent for the next 8 years and then level off to a growth rate of 7 percent indefinitely. If the required return is 14 percent, what is the price of the stock today?

8. Burnett Corp. pays a constant $17 dividend on its stock. The company will maintain this dividend for the next 13 years and will then cease paying dividends forever. If the required return on this stock is 9 percent, what is the current share price?