Our firm has just issued preferred stock called $\frac{10}{10}$ preferred. The stock will pay a $$10$ dividend per year, but the first dividend will not be paid for $10$ years. If you require a $9\%$ return on this stock, how much should you pay today $($approximately$)?$

a$)$ $$111.$

b$)$ $$99.$

c$)$ $$56.$

d$)$ $$51.$

e$)$ $$47.$

McGonigal's Meats, Inc. currently pays no dividends. The firm plans to begin paying dividends in $6$ years. The first dividend will be $$1\mathrm{.}50(($:$D_6\}$ and dividends will grow at $6\%$ per year thereafter. Given a required return of $10\%,$ what would you pay for the stock today $($approximately$)?$

a$)$ $$21\mathrm{.}17$

b$)$ $$23\mathrm{.}28$

c$)$ $$17\mathrm{.}10$

d$)$ $$37\mathrm{.}50$

e$)$ $$15\mathrm{.}00$