A firm's earnings and dividends are expected to decline at a constant rate of 4% per year. The most recent dividend (Div0) was $3.6 and the required return on the stock is 11%. The current price of the stock should be $__________.

A stock is expected to pay the following dividends: $1.1 in 1 year, $1.5 in 2 years, and $1.9 in 3 years, followed by growth in the dividend of 8% per year forever after that point. The stock's required return is 13%. The stock's current price (Price at year 0) should be $____________.