At the beginning of 2021, you are valuing Coca-Cola stock to compare its value to its market price.

The current market price is \($54.84.\) Given the history of Coca-Cola’s dividends, you believe that the company will pay total dividends in 2021 of \($1.72\) (= 4 × \($0.43\) ) . Your analysis indicates that the total dividends in 2022 and 2023 will be \($1.79\) and \($1.88,\) respectively. In addition, you believe that the price of Coca-Cola stock at the end of 2023 will be \($65.00\) per share. If the appropriate discount rate is 8.0 percent, what is the value of Coca-Cola stock?