The Jackson$-$Timberlake Wardrobe Company just paid a dividend of $$1\mathrm{.}34$ per share on its stock. The dividends are expected to grow at a constant rate of $4$ percent per year indefinitely.

a$.$ If investors require a return of $11$ percent on the company's stock, what is the current price?

b$.$ What will the price be in $20$ years?