Sonangol has recently gone public. Being a growth company, it is not expected to pay a dividend for the first five years. After then, the market expects Sonangol to pay an annual dividend f1.00 per share, with no growth. If the required return is 10%, what is the current stock price? HW Holdings expects to pay out an annual dividend of f1.50 per share and market analysts are expecting an indefinite growth of 7%. Currently the stock is trading at $25 per share. What required rate of return does this represent in an efficient market