A preferred share of stock has a par value of $$100$ and promises to pay a $9\mathrm{.}2\%$ dividend annually. What

would an investor be willing to pay for this stock if its required rate of return is $14\mathrm{.}00\%?$

A firm is expected to pay the following dividends over the next six years: $$0\mathrm{.}50,$$$1\mathrm{.}00,$$$1\mathrm{.}50,$$$2\mathrm{.}00,$$$2\mathrm{.}50$ and

$$3\mathrm{.}00.$ Afterward, the company pledges to maintain a constant $4\mathrm{.}0$ percent growth rate in dividends, forever. If

the required return is $14$ percent, what is the current share price?