FIN Corp. will close in 3 years with the annual dividends of $3, $6, and $36 over the next 3 years, respectively. What is the current share value given a discount rate of 12%?

1. $33.09

2. $35.68

3. $28.23

4. $30.07

A firm just paid an annual dividend of $0.90 a share and plans on increasing future dividends by 2 percent annually forever. What is the share value if k=15%?

1. $6.92

2. $7.06

3. $8.13

4. $8.97