Two stocks each currently pay a dividend of $2.20 per share. It is anticipated that both firms dividends will grow annually at the rate of 2 percent. Firm A has a beta coefficient of 0.95 while the beta coefficient of firm B is 0.72.

If U.S. Treasury bills currently yield 3.4 percent and you expect the market to increase at an annual rate of 8 percent, what are the valuations of these two stocks using the dividend-growth model? Do not round intermediate calculations. Round your answers to two decimal places.

Stock A:

Stock B: