1)A company currently pays a dividend of $3

1)A company currently pays a dividend of $3.25 per share (D₀ = $3.25). It is estimated that the company's dividend will grow at a rate of 21% per year for the next 2 years, and then at a constant rate of 7% thereafter. The company's stock has a beta of 1.2, the risk-free rate is 4%, and the market risk premium is 5%. What is your estimate of the stock's current price? Round your answer to the nearest cent.

2)Crisp Cookware's common stock is expected to pay a dividend of $2 a share at the end of this year (D₁ = $2.00); its beta is 1.15; the risk-free rate is 5.1%; and the market risk premium is 4%. The dividend is expected to grow at some constant rate g, and the stock currently sells for $22 a share. Assuming the market is in equilibrium, what does the market believe will be the stock's price at the end of 3 years (i.e., what is  )? Do not round intermediate steps. Round your answer to the nearest cent