kindsor Natural Foods' current dividend is $7.00. You expect the growth rate to be 0 percent for years 1 to 5, and 1 percent for years 6 to infinity. The required rate of return on this firms equity is 11 percent.

1. Determine the expected price of the stock at the end of year 5 (immediately after the year 5 dividend). (Round answer to 2 decimal places, e.g. 45.17.)

2. Determine the price of the stock today. (Round answer to 2 decimal places)