Halliford Corporation expects to have earnings this coming year of $3.381 per share. Halliford plans to retain all of its earnings for the next two years. Then, for the subsequent two years, the firm will retain 50% of its earnings. It will retain 19% of its earnings from that point onward. Each year, retained eamings will be invested in new projects with an expected return of 22.1% per year. Any earnings that are not retained will be paid out as dividends. Assume Halliford's share count remains constant and all earnings growth comes from the investment of retained earnings. If Halliford's equity cost of capital is 8.6%, what price would you estimate for Halliford stock? The stock price will be $ (Round to the nearest cent.) Assume Gillette Corporation will pay an annual dividend of $0.69 one year from now. Analysts expect this dividend to grow at 12.7% per year thereafter until the 6 th year. Thereafter, growth will level off at 1.6% per year. According to the dividend-discount model, what is the value of a share of Gillette stock if the firm's equity cost of capital is 8.8% ? The value of Gillette's stock is S (Round to the nearest cent.)