The FI Corporation's dividends per share are expected to grow indefinitely by 6% per year. a. If this years year-end dividend is $9 and the market capitalization rate is 12% per year, what must the current stock price be according to the dividend discount model? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. If the expected earnings per share are $15, what is the implied value of the ROE on future investment opportunities?