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Fey Fashions expects the following dividend pattern over the next seven years: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year

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Fey Fashions expects the following dividend pattern over the next seven years: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 $1.00 $1.09 $1.19 $1.30 $1.42 $1.55 $1.69 The company will then have a constant dividend of $1.90 forever. What is the stock's price today if an investor wants to earn a. 16%? b. 23%? a. What is the stock's price today if an investor wants to earn 16%? (Round to the nearest cent.) b. What is the stock's price today if an investor wants to earn 23%? (Round to the nearest cent.)

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