Dorpac Corporation has a dividend yield of 4%. Its equity cost of capital is 12%, and its dividends are expected to grow at a constant rate. What is the expected growth rate of Dorpac's dividends? (1 point)

Laurel Enterprises expects earnings per share of $3 next year and will retain a constant 20% of its earnings for reinvestment. Laurel's cost of equity is 10% and its expected return on new investment is 15%. If Laurel's next dividend is due in one year, what do you estimate the firm's current stock price to be? (1 point)