Suppose a firm just paid a dividend of $1.00. You expect that the firm will grow at 30% next year, 20% the following year, and at a constant rate of 7% thereafter. The required return on this firm's equity is 16%. What is the price of the stock? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67). Consider an annuity that pays $600 per year for 13 years, with the first payment starting a year later (t=1). What is its present value today at an expected return of 9% per year? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67)