7.) Summit Systems will pay a dividend of $ 1.50 this year. If you expect Summit's dividend to grow by 6.0 % per year, what is its price per share if the firm's equity cost of capital is 11.0 %? The price per share is $___

8.) NoGrowth Industries presently pays an annual dividend of $ 2.00 per share and it is expected that these dividend payments will continue indefinitely. If NoGrowth's equity cost of capital is 11%, then the value of a share of NoGrowth's stock is closest to: