P7-5 (similar to) King Waterbeds has an annual cash dividend policy that raises the dividend each year by 5%. The most recent dividend, Divo. was $0.35 per share. What is the stock's price if a. an investor wants a return of 7%? b. an investor wants a return of 8%? c. an investor wants a return of 11%? d. an investor wants a return of 15%? e. an investor wants a return of 1996? a. What is the stock's price if an investor wants a return of 7%? (Round to the nearest cent.)