Solve these questions with formula (answer quantitatively) :

a.. Chris Rogers forecasted that Android Inc shall pay its first dividend 2 years from now worth $1.5. For the year after that, it has been forecasted that a dividend of $2.2 shall be paid. This will grow a constant growth rate of 5%. The Risk free rate is 4%, market risk premium is 6% and beta is 1.2 . What is the value of the share of Android? b. Heather Callaway, CFA, is concerned about the accuracy of her valuation of Crimson Gate, a fast growing telecommunications equipment company that her firm rates as a top buy. Crimson currently trades at $134 per share, and Callaway has put together the following information of the stock : Most recent dividend per share = $0.55 Growth rate, next 2 years = 30% Growth rate , after 2 years = 12% Trailing P/E = 25.6 Financial leverage = 3.4 Sales = $1198 per share Asset turnover = 11.2 Estimated market rate of return = 13.2% Callaway's employer, Bates Investment, likes to use a company's sustainable growth rate as a key input to obtaining the required rate of return for the company's stock. Crim son's sustainable growth rate is ?