The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.34 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)$22.33$23.42$24.37$6.70$23.90

(b)	What will the price be in 13 years?
	(Click to select)$16.15$57.59$58.74$53.82$56.44