Jon stock just paid a quarterly dividend of $1.39 per share (d0 = 1.39). ABC's dividends are expected to grow at a rate of 4% APR compounded quarterly over the next 6 years, and then remain constant (zero-growth) forever after that point in time. Using the dividend discount model, what is the price of the stock today if the required return is 12% APR compounded quarterly?

Your client bought a $1000 face-value bond with 20-years remaining to maturity for $981. The bond pays a semi-annual coupon at 9% APR compounded semi-annually. However, 3 years later (just after receiving his 6th semi-annual coupon payment), he sold the bond for $854. What was his realized yield (or realized return) stated as an APR with semi-annual compounding?

please answer both