Please help with the following study questions. Need asap.

3. Summit Systems will pay a dividend of $1.50 one year from now. If you expectSummit's dividend to grow by 6.0% peryear, what is its price per share if its equity cost of capital is 11.0%?The price per share is $_____. (Round to the nearestcent.)

4. Halliford Corporation expects to have earnings this coming year of $ 2.61 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent twoyears, the firm will retain 51%

of its earnings. It will then retain 21% of its earnings from that point onward. Eachyear, retained earnings will be invested in new projects with an expected return of 25.44% per year. Any earnings that are not retained will be paid out as dividends. AssumeHalliford's share count remains constant and all earnings growth comes from the investment of retained earnings. IfHalliford's equity cost of capital is 8.6%, what price would you estimate for Hallifordstock?

The price per share is $. Round to the nearestcent.)