Great Barrier Reef International (GBRI) is a public company with shares listed on the NYSE. In 2018, the company will pay a year-end dividend of $2.67. Stock analysts expect the dividend to grow at a 3% rate indefinitely. The discount rate is 11%. (a) What is the stock selling for? (b) If GBRIs earnings are $3.05 per share, what is the implied value of the firms growth opportunities? (Hint: PVGO) (10 pts)

is a 34.38 or 33.38?

is b 6.65 or 5.65?