Lauren Corporation will pay a dividend of $2.70 next year. The company has stated that it will maintain a constant growth rate of 4.75 percent a year forever.

If you want a return of 16 percent, how much will you pay for the stock?

Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

If you want a return of 11 percent, how much will you pay for the stock?

Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.