A) Bone Thugs Corporation paid a quarterly dividend of $1.12 per share. At that point in time Bone Thugs dividends were expected to grow by 1% per quarter in perpetuity. Assuming a discount rate of 2.5% per quarter and that each dividend is paid at quarter end, what was the value of a Bone Thugs share just after it paid that dividend?

B) The emergence of the flu led to severe cash flow problems at Bone Thugs, and it announced in early 2020 that it would suspend its dividend for the remainder of the year. As of the end of 2020, Bone Thugs projected that it would not pay a dividend in either the first or the second quarter of 2021, but that it would pay a dividend of $0.50 per share at the end of each of the third and fourth quarters of 2021. Further, Bone Thugs projected that it would pay a dividend of $0.75 per share at the end of the first and second quarters of 2022, and that it would be able to return its dividend to the $1.12 level by the third quarter of 2022, after which it would be able to increase subsequent dividends by 1% per quarter in perpetuity. Still assuming a discount rate of 2.5% per quarter, what was the value of a Bone Thugs share at the end of 2020?