Financial analysts forecast L Brands (LB) growth for the future to be 13.4 percent. LB's most recent dividend was $2.20. What is the fair present value of L Brandss stock if the required rate of return is 16.3 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

____

a. What is the duration of a two-year bond that pays an annual coupon of 10.7 percent and has a current yield to maturity of 13.1 percent? Use $1,000 as the face value. (Do not round intermediate calculations. Round your answer to 4 decimal places. (e.g., 32.1616))

b. What is the duration of a two-year zero-coupon bond that is yielding 11.5 percent? Use $1,000 as the face value.