RIO's company's ordinary shares are expected to pay $ 1.2 per share in dividends for 4 years and after which the dividends are expected to grow at 2.2% annually forever. RIO's shares have a beta of 1.6. The long-term return of ASX200 is 10.8% and the market risk premium is 6%.

a. The expected return of RIO's shares is? (in %) (round to 2 d.p) b. The implied price per share is? ( in $) (round to 2 d.p.)