7) Denver Inc. has an 11.5% required rate of return. It does not expect to initiate dividends for 15 years, at which time it will pay $3.75 per share in dividends. At that time, Denver expects its dividends to grow at 6% forever. What is an estimate of Denver's price in 15 years (P15) if its dividend at the end of year 15 is $3.75? What is its price in today's dollars if you desire a rate of return of 12%?