1A) Use the Dividend Growth Model to compute the expected price of a stock in 3 years. Each share is expected to pay a dividend of $9.07 in one year. Investors' annual required rate of return is 12.2%, and the expected growth rate of the dividend is 4.3% per annum. Answer to the nearest penny.

1B) The Wayne Corporation expects to have a changing dividend policy over the next few years starting with the dividend that they just paid of $10.10. In the following year their dividend will grow by 13.8% and in the year after by 11.8%. Following that they expect their dividends to continue growing at a constant rate of 5.4% forever. If the required rate of return for Wayne is 16.4% per year, what is the price today of Wayne shares? Answer to the nearest penny.