8-11: Valuing Common Stocks with the Dividend Growth Model Problem 8-3 Constant Growth Valuation Woidtke Manufacturing's stock currently sells for $34 a share. The stock just paid a dividend of $2.75 a share (i.e., Do - $2.75), and the dividend is expected to grow forever at a constant rate of 3% a year. What stock price is expected 1 year from now? Round your answer to the nearest cent. What is the estimated required rate of return on Woldtke's stock? Round the answer to three decimal places