The risk-free rate is 2.73% and the market risk premium is 7.71%. A stock with a of 1.18 just paid a dividend of $2.97. The dividend is expected to grow at 21.52% for three years and then grow at 3.93% forever. What is the value of the stock?

Caspian Sea Drinks needs to raise $42.00 million by issuing additional shares of stock. If the market estimates CSD will pay a dividend of $2.21 next year, which will grow at 4.72% forever and the cost of equity to be 14.31%, then how many shares of stock must CSD sell?