The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.32 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 13 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
	(Click to select)$6.60$22.00$23.07$24.01$23.54

(b)	What will the price be in 8 years?
	(Click to select)$41.26$39.64$40.45$11.34$37.80