1. A stock is expected to pay the following dividends: $1.2 in 1 year, $1.4 in 2 years, and $1.9 in 3 years, followed by growth in the dividend of 7% per year forever after that point. The stock's required return is 14%. The stock's current price (Price at year 0) should be $____________.

2. A stock is expected to pay the following dividends: $1.1 four years from now, $1.6 five years from now, and $1.8 six years from now, followed by growth in the dividend of 7% per year forever after that point. There will be no dividends prior to year 4. The stock's required return is 13%. The stock's current price (Price at year 0) should be $____________.