A company will pay a $3 per sharedividendin 1 year. The dividend in 2 years will be $6 per share, and it is expected that dividends will grow at 3% per year thereafter. The expected rate of return on the stock is 12%.

a.	What is the current price of the stock?(Do not roundintermediate calculations. Round your answer to 2 decimal places.)

Current price

$

b.	What is the expected price of the stock in a year?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

Expected price

$