Colgate-Palmolive Company has just paid an annual dividend of $1.97. Analysts are predicting dividends to grow by $0.12 per year over the next five years. After then, Colgate's earnings are expected to grow 6.4% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 9.1% per year, what price does the dividend-discount model predict Colgate stock should sell for today? The price per share is $. (Round to two decimal places.) Halliford Corporation expects to have earnings this coming year of $3.27 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent two years, the firm will retain 49% of its earnings. It will then retain 18% of its earnings from that point onward. Each year, retained earnings will be invested in new projects with an expected return of 26.25% per year. Any earnings that are not retained will be paid out as dividends. Assume Halliford's share count remains constant and all earnings growth comes from the investment of retained earnings. If Halliford's equity cost of capital is 10.2%, what price would you estimate for Halliford stock? Note: Remember that growth rate is computed as: retention rate x rate of return. The price per share is $. (Round to the nearest cent.)