Carlson Enterprises' common stock dividend is expected to grow at 3 % per year. The dividend recently paid was $ 0.27 per share, and the required return is 4

a. What is the estimated value of the common stock?

b. If the value of a common stock was $ 93 per share and dividends were recently $ 2.17 but expected to grow at 4 % per year, what would be the required rate of return?