7. Suppose that next year the expected dividends of the stocks in a broad market index equaled $9000000 when the discount rate was 5% and the expected growth rate of the dividends equaled 3%. Using the constant-growth formula for valuation, if interest rates change to 7%, the percentage change in the value of the market index is _____. Note: Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05"

8. You are considering acquiring a common share of Firm D that you would like to hold for 1 year. You expect to receive both $0.9 in total dividends and $109 from the sale of the share at the end of the holding period. The maximum price you would pay for a share today is __________ if you wanted to earn a 9% yearly return. Round to 3 decimals