please solve the both questions soon as possible please both should be solved I'm in hurry need answers in 20 to 25 minutes. its really urgent

14 val. Question 3: Sommer, Inc., is considering a project that will result in initial after-tax cash savings of $1.89 million at the end of the first year, and these savings will grow at a rate of 2 percent per year indefinitely. The firm has a target debt-equity ratio of .80, a cost of equity of 12.9 percent, and an after-tax cost of debt of 5.7 percent. The cost-saving proposal is somewhat riskier than the usual project the firm undertakes; management uses the subjective approach and applies an adjustment factor of 1 percent to the cost of capital for such risky projects. What is the maximum initial cost the company would be willing to pay for the project? Question 5: Utech Inc. is a startup company which must reinvest in itself heavily in the near future. Specifically, Utech can only afford to pay a dividend every three years for the next nine years. The company plans to pay a dividend of $9 three years from today. The dividend in year six is expected to be 173% of the dividend paid in year three. The dividend in year nine is expected to be 137% of the dividend paid in year six. Dividends are expected to grow at a constant rate 4% thereafter. Find the value of the stock today if you require a 13% rate of return? (7 Marks)