Please give detailed solution.

1. Jordan Inc.s first dividend of $4 per share is expected to be paid six years from today. From then on, dividends will grow by 15% per year for five years. The growth rate will then slow down to 5% per year forever. The required return on Jordan stock is 10%. What is the value of a share of Jordan stock today? Solve without excel.

2. Five years ago, Jordan bought a 8-year, 7% semi-annual coupon bond. Face Value= 1000. If the yield to maturity (compounded semi-annually) is 5.5%, what is the bonds duration today? What does this duration tell us? Solve without excel.