Laurel Enterprises expects earnings next year of ​$ per share and has a retention​ rate, which it plans to keep constant. Its equity cost of capital is ​, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of per year. If its next dividend is due in one​ year, what do you estimate the​ firm's current stock price to​ be?

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?