Gilmore, Inc., just paid a dividend of $2.85 per share on its stock. The dividends are expected to grow at a constant rate of 4.5% per year, indefinitely. Assume investors require return of 10% on this stock.
What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
What will the price be in five years and in fourteen years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)