Alexander Corp. will pay a dividend of $2.80 next year. The company has stated that it will maintain a constant growth rate of 5 percent a year forever.

Requirement 1: If you want a return of 17 percent, how much will you pay for the stock (Current Stock Price)? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:

If you want a return of 12 percent, how much will you pay for the stock (Current Stock Price)? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16)