Here are data on two stocks, both of which have discount rates of 15%:

	Stock A			Stock B
Return on equity		15	%		12	%
Earnings per share	$	3.00		$	2.30
Dividends per share	$	1.80		$	1.80

a.	What are the dividend payout ratios for each firm? (Enter your answers as a percent rounded to 2 decimal places.)

	Stock A	Stock B
Dividend payout ratios	%	%

b.	What are the expected dividend growth rates for each firm? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

	Stock A	Stock B
Expected dividend growth rates	%	%

c.	What is the proper stock price for each firm? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

	Stock A	Stock B
Stock price	$	$