The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.26 per share on its stock. The dividends are expected to grow at a constant rate of 7 percent per year indefinitely.

Required:
(a)	If investors require a 12 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
	(Click to select)$26.42$6.63$26.96$25.20$27.50

(b)	What will the price be in 19 years?
	(Click to select)$97.52$99.47$23.98$91.14$95.57