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 4 percent per year indefinitely.

Required:
(a)	If investors require a 10 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?
	(Click to select) $22.33 $22.76 $23.23 $23.69 $9.57

(b)	What will the price be in 10 years?
	(Click to select) $34.38 $14.17 $33.06 $33.69 $35.07