7. Problem 7-08 (Constant Dividend Growth Valuation) Constant Dividend Growth Valuation Woidtke Manufacturing's stock currently sells for $29 a share. The stock just paid a dividend of $2.60 a share (i.0t, Do = $2.60), and the dividend is expected to arow forever at a constant rate of 4% a yeac. What stock price is expected 1 year from now? Do not reand intermediate calculationa Round your answer to the nearest oent. 5 What is the estimated required rate of return on Woidthe's stock (assume the market is in equilarilum with the required return equal to the expected return)? Da not round intermediate calculations. Round the answer to two decimal places