Gentleman Gym just paid its annual dividend of $5 per share, and it is widely expected that the dividend will increase by 5% per year indefinitely.

a.	What price should the stock sell at if the discount rate is 20%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Stock price

$

b.	What price should the stock sell at if the discount rate is 12%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Stock price

$