A firm is expected to pay a dividend of 285 next year and, Financial Management

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A firm is expected to pay a dividend of 285 next year and

A firm is expected to pay a dividend of $2.85 next year and $3.15 the following year. Financial analysts believe the stock will be at their price target of $110 in two years.

Compute the value of this stock with a required return of 13.1 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Value of stock $

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Financial Management: A firm is expected to pay a dividend of 285 next year and

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