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%.

What is the stock selling for?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

b. If earnings are $3.60 a share, what is the implied value of the firms growth opportunities?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.