Fey Fashions expects the following dividend pattern over the next seven years:

LOADING...

. The company will then have a constant dividend of

$3.20

forever. What is the stock's price today if an investor wants to earn

a.15%?

b.20%?

(Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 $1.50 Year 2 $1.67 Year 3 $1.85 Year 4 $2.05 Year 5 $2.28 Year 6 $2.53 Year 7 $2.81