Lauren Corporation will pay a dividend of $3.10 next year. The company has stated that it will maintain a constant growth rate of 4.2 percent a year forever.

If you want a return of 12 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 8 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.