Problem $7-16$ Constant$-$Growth Model $($LO$2)$

Gentleman Gym just paid its annual dividend of $$4$ per share, and it is widely expected that the dividend will increase by $5\%$ per year indefinitely.

What price should the stock sell at if the discount rate is $20\%.$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

What price should the stock sell at if the discount rate is $15\%.$

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.