Steady As She Goes Inc. will pay a year-end dividend of $3.10 per share. Investors expect the dividend to grow at a rate of 5% indefinitely.

a.If the stock currently sells for $31.00 per share, what is the expected rate of return on the stock?(Do not round intermediate calculations. Enter your answer as a whole percent.)

b.If the expected rate of return on the stock is 17.50%, what is the stock price?(Do not round intermediate calculations. Enter your answers rounded to 2 decimal places.)