7.6 We've already calculated the present value of dividends through year 5 as $7.39. We can also forecast the dividend in year 6 as DIV = 1.055XDIV = 1.055x$2.34 $2.4687 Price in year 5 is $2.4687 Ps $82.29 .085-.055 Po-PV(dividends through year 5)+PV(Ps) =$7.39+ $82.29 (1.085) = $62.12