The Jackson$-$Timberlake Wardrobe Company just paid a dividend of $$1\mathrm{.}36$ per share on its stock. The dividends are expected to grow at a constant rate of $7$ percent per year indefinitely.

a$.$ If investors require a return of $13$ percent on the company's stock, what is the current price?

Current price

b$.$ What will the price be in $7$ years?

Stock price in $7$ years