Two questions here!

1. NoGrowth Corportation currently pays a dividend of $0.50 per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firms equity cost of capital is 15%?

2. Laurel Enterprises expects earnings next year of $4 per share and has a 40% retention rate, which it plans to keep constant. It's equity cost of capital is 10%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 4% per year. If its next dividend is due in one year, what do you estimate the firm's current stock price to be?