1. Marcel Co. is growing quickly. Dividends are expected to grow at a rate of 0.20 for the next 4 years, with the growth rate falling off to a constant 0.01 thereafter. If the required return is 0.14 and the company just paid a $1.95 dividend, what is the current share price? Answer with 2 decimals (e.g. 45.45).

2. Apocalyptica Corp. pays a constant $7.71 dividend on its stock. The company will maintain this dividend for the next 8 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? Answer with 2 decimals (e.g. 45.45).

3. The next dividend payment by Hot Wings, Inc., will be $3.83 per share. The dividends are anticipated to maintain a 0.05 growth rate forever. If the stock currently sells for $27 per share, what is the required return? Anser with 4 decimals (e.g. 0.1234)