The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.56 per share on its stock. The dividends are expected to grow at a constant rate of 5 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) A.$32.76 B.$10.40 C.$32.10 D.$33.42 E.$31.20

(b)	What will the price be in 13 years?
	A.$60.54 B.$19.61 C.$63.01 D.$61.77 E.$58.83