Sarasota Tires current dividend is $3.00. Dividends are expected to grow by 25 percent for years 1 to 3 and 10 percent thereafter. The required rate of return on the stock is 14 percent. What is Sarasotas current stock price? (Round intermediate calculations to 4 decimal places, e.g. 7.1285 and final answer to 2 decimal places, e.g. 115.61.)

Stock price

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Culver Inc. has a patent that will expire in two years. The firm is expected to grow at 9.7 percent for the next two years and dividends will be paid at year end. It just paid a dividend of $1. After two years, the growth rate will decline to 3.7 percent immediately, and the firm will grow at this rate forever. If the required rate of return is 10 percent, value the firms current share price. (Round intermediate calculations to 4 decimal places, e.g.1.1712 and the final answer to 2 decimal places, e.g. 45.17.)

Current share price

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