a.Moriarty Co Ltd has been growing at a rate of 4.5% for the past 4 years, and the company's CEO expects the company to continue to grow at this rate for the next several years. The company has just paid a dividend of $2.05. If your required rate of return was 8%, what is the maximum price that you would be willing to pay for this company's shares? (round to 2 d.p) (3 marks)

b. Sherlock Ltd is planning to pay a dividend of $1.80 next year. The expected share price a year from now is $25.80. The required rate of return is 13%. Assume a constant growth, what is the current price of this share? (round to 2 dp) (4 marks)