Fowler, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year, indefinitely. Assume investors require a return of 11 percent on this stock.

a.

What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b.What will the price be in three years and in fifteen years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

a. current price =

b. Price in 3 years =

Price in 15 years=