Problem $7-29$ Nonconstant Growth $($LO$2)$

Tattletale News Corporation has been growing at a rate of $20\%$ per year, and you expect this growth rate in earnings and divids

continue for another $3$ years.

a$.$ If the last dividend paid was $$8,$ what will the next dividend be$?$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Dividend

b$.$ If the discount rate is $17\%$ and the steady growth rate after $3$ years is $4\%,$ what should the stock price be today?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Stock price