A. Holt Enterprises recently paid a dividend of $2.75. It expected that dividends will grow at a constant rate of 6% indefinitely, and the firms required return is 12%. What should be the firms stock price (i.e., its intrinsic value) today?

B. Now suppose Holt expects to have a growth of 18% for 2 years followed by a constant rate of 6% thereafter. What should be the firms stock price in this situation?