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A corporation is expected to pay a dividend of $3 in 1 year, $4.25 in 2 years, and $15 in 3 years. You expect to

A corporation is expected to pay a dividend of $3 in 1 year, $4.25 in 2 years, and $15 in 3 years. You expect to sell the stock for $100 in 3 years. If your required return for purchasing the stock is 12 percent, how much would you pay for the stock today? Select one: a. $81.52 b. $77.24 c. $87.9 d. $82.93

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