Rolling Stoned Inc. will pay a $3.65/share dividend next year and the firm plans to increase dividends by 3.75% per year indefinitely. If you require a return of 11% on your investment, how much per share would you pay for the company today? (25 pts)

2. Browning Development has preferred stock outstanding that pays a yearly dividend of $3.50 in perpetuity. The current price of the preferred stock is $85. What is the required return on the preferred stock issue? (15 pts)

please provide formulas and excel work if needed.