Trend-Line Inc. has been growing at a rate of 7% per year and is expected to continue to do so indefinitely. The next dividend is expected to be $6 per share.

a. If the market expects a 12% rate of return on Trend-Line, at what price must it be selling? (Do not round intermediate calculations.)

b. If Trend-Lines earnings per share will be $9 next year, what part of its value is due to assets in place? (Do not round intermediate calculations.)

c. If Trend-Lines earnings per share will be $9 next year, what part of its value is due to growth opportunities? (Do not round intermediate calculations.)