A stock paid $1.50 in dividends last year. The dividends have been growing by 3% on average over the past 10 years, and this trend is expected to continue indefinitely. If other comparable stocks are returning 9%, at what price should the stock trade?

A competitor has 25 million shares outstanding at a stock price of $36 and expected annual net income of $50 million dollars. What is the competitors P/E ratio?