help solve please!!

help solve A. and B. asking for rates of return

Next year Steady As She Goes, Inc., is expected to pay a year-end dividend of $2.55 per share. Investors expect the dividend to grow at a rate of 8.7% indefinitely. a. If the stock currently sells for $29.31 per share, what is the expected rate of return on the stock? (Do not round intermediate calculations.) b. If the expected rate of return on the stock is 15.66%, what is the stock price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Problem 7-6 Rate of Return (LO2, 3) Next year Steady As She Goes, Inc., is expected to pay a year-end dividend of $2.55 per share. Investors expect the dividend to grow at a rate of 8.7% indefinitely. a. If the stock currently sells for $29.31 per share, what is the expected rate of return on the stock? (Do not round intermediate calculations.) b. If the expected rate of return on the stock is 15.66%, what is the stock price? (Do not round intermediate calculations. Round your ariswer to 2 decimal places.)