Problem 7-12 Stock Valuation LO 1 Alexander Corp. will pay a dividend of $2.70 next year. The company has stated that it will maintain a constant growth rate of 4.75 percent a year forever Requirement 1: If you want a return of 16 percent, how much will you pay for the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g. 32.16).) Current stock price Requirement 2: If you want a return of 11 percent, how much will you pay for the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g. 32.16).) Current stock price