Aksa Enerji's dividend has been steadily increasing at a rate of 20% every year. In terms of earnings and dividends, you expect this upward trend to continue for another three years.

a. Assume that Aksa Enerji last paid $12 dividend to its shareholders. Calculate the next dividend that Aksa Enerji will pay to its shareholders.

(Intermediate computations should not be rounded. Your answer should be rounded to two decimal places.)

b. Now assume that the steady growth rate of Aksa Enerji after three years is decreased to 3%. Calculate the price of the stock today given 25% discount rate.

(Intermediate computations should not be rounded. Your answer should be rounded to two decimal places.)