CX Enterprises has the following expected dividends: $1.01 in one year, $1.24 in two years, and $1.31 in three years. After that, its dividends are expected to grow at 4.4% per year forever (so that year 4's dividend will be 4.4% more than $1.31 and so on). If CX's equity cost of capital is 12.3%, what is the current price of its stock? The price of the stock will be $ (Round to the nearest cent.) Laurel Enterprises expects earnings next year of $4.35 per share and has a 50% retention rate, which it plans to keep constant. Its equity cost of capital is 11%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 5.5% per year. If its next dividend is due in one year, what do you estimate the firm's current stock price to be? The current stock price will be (Round to the nearest cent.)