The investment banking firm of Einstein & Company will use a dividend valuation model to appraise the shares of the Modern Physics Corporation. Dividends $(D_1)$ at the end of the current year will be $$1\mathrm{.}60.$ The growth rate $(g)$ is $12$ percent and the discount rate $(K_e)$ is $15$ percent.

a$.$ What should be the price of the stock to the public?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

Price of the stock

b$.$ If there is a $5$ percent total underwriting spread on the stock, how much will the issuing corporation receive?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

Net price to the corporation