Problem $7-22$ Constant$-$Growth Model $($LO$2)$

Fincorp will pay a year$-$end dividend of $$3\mathrm{.}60$ per share, which is expected to grow at a rate of $2\%$ for the indefinite future. The discount rate is $12\%.$

a$.$ What is the stock selling for?

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

$\backslash$table$[[$Stock price,$$,36\mathrm{.}00]]$

b$.$ If earnings are $$4\mathrm{.}10$ a share, what is the implied value of the firm's growth opportunities?

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

Implied value