Steady As She Goes Inc. will pay a year-end dividend of $2.30 per share. Investors expect the dividend to grow at a rate of 6% indefinitely. a. If the stock currently sells for $23.00 per share, what...

Steady As She Goes Inc. will pay a year-end dividend of $2.30 per share. Investors expect the dividend to grow at a rate of 6% indefinitely.

a.
If the stock currently sells for $23.00 per share, what is the expected rate of return on the stock?
(Do not round intermediate calculations. Enter your answer as a whole percent.)

b.
If the expected rate of return on the stock is 18.50%, what is the stock price?
(Do not round intermediate calculations. Enter your answers rounded to 2 decimal places.)