A stock just paid a dividend this morning of $1.39. Dividends are expected to grow at 13.00% for the next two years. After year 2, dividends are expected to grow at 8.63% for the following three years. At that point, dividends are expected to grow at a rate of 5.00% forever. If investors require a return of 15.00% to own the stock, what is its intrinsic value?

A couple purchased a bond for $950.00 three years ago. The bond pays 6.50% APR with semi-annual coupons with a face value of $1,000. Currently, the bond has exactly 10 years until maturity, and investors seek a return of 12.00% APR on bonds of similar risk.

What is the current price of the bond?