a) A common stock will pay a cash dividend of 10 next year. After that the dividends are expected to increase indefinitely at 5% per year. If the discount rate is 10%, the present value of the stream of dividend payments is?

b)

A common stock has just paid a cash dividend of 10. Dividends are expected to increase indefinitely at 5% per year. If the discount rate is 10%, the present value of the stream of the future dividend payments is?