Suppose that a stock paid a dividend of $4

4 this year and that your required return on equity investments is 9

9%. Using the Gordon growthmodel, if you expect the dividends to grow at 5

5%, you will be willing to pay for the stock the amount $

nothing

. (Round your response to the nearest two decimalplaces.)

Using the Gordon growth model of stock pricedetermination, if a share of stock will pay a $1

1 dividend next year, dividends are expected to grow 3

3%, and people require an 10

10% return on equityinvestments, then the price of the stock is $

nothing

. (Round your response to the nearest two decimalplaces.)