!!! This is a Two - PART Question !!!

P1) LEP Tech is expected to pay its first dividend in exactly one year of $1.25 per share. The annual growth rate in dividends is expected to be 6% and LEP's shareholders require a return of 12%. The value of the stock is closest to...:

A) $23.68

B) $23.49

C) $22.08

D) $20.83

P2) Patch Software is expected to pay its first dividend in exactly one year of $0.25 per share. The growth rate in dividends is expected to be 4.5% and Patch's shareholders require 13.8%. The stock value is closest to...:

a) $2.69

b) $3.11

c) $2.42

d) $2.84