Suppose Wacken, Limited, just issued a dividend of $$2\mathrm{.}35$ per stock. The company paid dividends of $$1\mathrm{.}90,$$$2\mathrm{.}09,$$$2\mathrm{.}16,$ and $$2\mathrm{.}2$ four years.

a$.$ If the stock currently sells for $$50,$ what is your best estimate of equity capital using the arithmetic average growth rate in divic intermediate calculations and enter your answer as a percent places, e$.$g$.,32\mathrm{.}16.)$

a$.$ What if you use the geometric average growth rate? $($Do not rou calculations and enter your answer as a percent rounded to $2,32\mathrm{.}16.)$