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

The company will then have a constant dividend of $2.30 forever. What is the stock's price today if an investor wants to earn:

a. 16%?

b. 20%?

(Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 $1.30 Year 2 $1.40 Year 3 $1.51 Year 4 $1.63 Year 5 $1.76 Year 6 $1.90 Year 7 $2.05