Columbus Manufacturing's stock currently sells for $ 26.52 a share. The stock just paid a dividend of $3.50 a share (i.e.,D₀). The dividend is expected to grow at a constant rate of 3 % a year. What stock price is expected one year from now (P₁)? Round your answer to two decimal places.

Columbus Pet Products has preferred stock outstanding which pays a dividend of $ 3 at the end of each year. The preferred stock sells for $ 41.73 a share. What is the preferred stock's required rate of return? Answer in a percentage and round it to two decimal places, i.e., 13.24 for 0.1324.