A firm is expected to pay a dividend of $1.85 next year and $2.00 the following year. Financial analysts believe the stock will be at their price target of $65 in two years. Compute the value of this stock with a required return of 11.8 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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Value of stock $
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A firm is expected to pay a dividend of $1.85 next year and $2.00 the following year. Financial anal...
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