Compute the value of this stock with a required return of


A firm is expected to pay a dividend of $3.55 next year and $3.85 the following year. Financial analysts believe the stock will be at their price target of $120 in two years.

Compute the value of this stock with a required return of 13.2 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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Finance Basics: Compute the value of this stock with a required return of
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