Holtzman Clothiers's stock currently sells for $34 a share. It just paid a dividend of $3 a share (i.e., D₀ = $3). The dividend is expected to grow at a constant rate of 10% a year.

1. What stock price is expected 1 year from now? Round your answer to two decimal places. $
2. What is the required rate of return? Round your answer to two decimal places. Do not round your intermediate calculations. %