1. A company's current dividend per share was $1. The company expects that the dividends will grow at 10% for the next two years. After that the dividends will increase at 7%. The discount rate is 17%. What is a fair price for the stock?

   		$9.36
   		$11.36
   		$10.63
   		$27.50

2. A firm is currently experiencing troublesome times. The last dividend paid was $6, but this is expected to decline at a rate of 4% per year. If investors require 12%, what will the stock price be in two years?

		$27.65
		$55.25
		$33.18
		$60.00