Fey Fashions expects the following dividend pattern over the next seven years: ${?}^1.$ The company will then have a constant dividend of $$2\mathrm{.}30$ 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.$)$

$1$: Data Table

$($Click on the following icon in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[$Year $1,$Year $2,$Year $3,$Year $4,$Year $5,$Year $6,$Year $7],[$$$1\mathrm{.}20,$$$1\mathrm{.}31,$$$1\mathrm{.}43,$$$1\mathrm{.}56,$$$1\mathrm{.}70,$$$1\mathrm{.}85,$$$2\mathrm{.}02$