Fincorp will pay a year-end dividend of $2.40 per share, which is expected to grow at a rate of 4% for the indefinite future. The discount rate is 10%.

a.	What is the stock selling for? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Stock price

$

b.	If earnings are $3.60 a share, what is the implied value of the firms growth opportunities? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Implied value

$