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Fey Fashions expects the following dividend pattern over the next seven years: Year 1 Year 2 Year 5 Year 3 $1.63 Year 4 $1.76 Year

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Fey Fashions expects the following dividend pattern over the next seven years: Year 1 Year 2 Year 5 Year 3 $1.63 Year 4 $1.76 Year 6 $2.05 Year 7 $2.21 $1.40 $1.51 $1.90 The company will then have a constant dividend of $2.40 forever. What is the stock's price today if an investor wants to earn a. 15%? b. 22%

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