Constant Growth Valuation

Woidtke Manufacturing's stock currently sells for $$22$ a share. The stock just paid a dividend of $$1\mathrm{.}40$ a share $($i$.$e$.,D_0=$$$1\mathrm{.}40),$ and the dividend is expected to grow forever at a constant rate of $5\%$ a year. What stock price is expected $1$ year from now? Do not round intermediate calculations. Round your answer to the nearest cent.

$ $$ What is the estimated required rate of return on Woidtke's stock? Do not round intermediate calculations. Round the answer to two decimal places. $($Assume the market is in equilibrium with the required return equal to the expected return.$)$

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