A stock just paid an annual dividend of $2.2. The dividend is expected to grow by 9% per year for the next 4 years. The growth rate of dividends will then fall steadily by 1.75% per year, from 9% in year 4 to 2% in year 8 and stay at that level forever. The required rate of return is 12%.

Part 1 What is the expected dividend in 8 years? 2+ decimals

Part 2 What is the value of the stock in 8 years? 1+ decimals