(a) Delta Air Lines, Inc. currently has an annual dividend amount of $0.60 per share. Assume that the required return on investment is 10%, and the constant rate of growth of the dividend payment is 9%. Please calculate and report the current price of the stock using the Gordon constant growth model.

(b) The corona virus has negatively shocked world markets, severely impacting long distance travel such as flights. Now assume that the expected constant growth rate in dividends decreases to 7%, with all else remaining the same. Calculate and report the price of the Delta Air Lines stock with this new expectation using the Gordon growth model.