In the previous year Lotto Bank paid annual dividend of $7 per share. Lotto expects the growth of dividends to be 2% per year going forward.

a) Investors require 8% return, what is the current value of Lotto Bank's stock? (round to nearest cent)

b) If stock trades at $124.55 per share, what is the dividend growth rate investors expect? (round to nearest percent) Hint: When the constant-growth formula is solved for the growth variable, it becomes: g = -D/P + r

Answer has been provided; Part A)119.00 and Part B)2.27, but please show me how to get this answer via EXCEL formula NOT fin. calc.