Red Mining Inc. will pay a common stock dividend of $$1\mathrm{.}15$ at the end of the year $($D$1).$ The required return on common stock $($Ke$)$ is $13$ percent. The firm has a constant growth rate $($g$)$ of $9$ percent. Compute the current price of the stock $($P$0).$

$15.$ Quantum LLC paid a dividend of $$4\mathrm{.}3$ last year. Over the next $12$ months, the dividend is expected to grow at $8$ percent, which is the constant growth rate for the firm $($g$).$ The new dividend after $12$ months will represent D$1.$ The required rate of return $($Ke$)$ is $14$ percent. Compute the price of the stock $($P$0).$

$16.$ If a preferred stock from Pfizer Inc. $($PFE$)$ pays $$3\mathrm{.}1$ in annual dividends, and the required return on the preferred stock is $7$ percent, what's the value of the stock?