I want to know the solving process

1. Exxon Inc, currently Days no dividends, but the firm will begin Daying dividends in 2 years, The first dividend will be $3.20 and dividends art Dected to grow at 5% thereafter, If the required return on the stock is 8%, what should the stock sel for today? 1. $91.88 2. $94.28 3. $96,02 4. $98,770 5. $102.26 2. Exxon's dividends are expected to grow at a rate of 15% during the next two years, 10% in the third year, and at a constant rate of 5% the fter. Exxon's last dividend, which has just been Daid, was $2.00. If the required rate of retum on the stock is 12%, what would be the price of stock in two years (P2)? 1. $37,47 2. $38.97 3. $39,47 4. $41,47 5. $41,56