A firm is expected to pay a dividend of $1.75 next year and $1.90 the following year.
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| A firm is expected to pay a dividend of $1.75 next year and $1.90 the following year. Financial analysts believe the stock will be at their price target of $60 in two years. |
| Compute the value of this stock with a required return of 11.7 percent.(Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Value of stock | $ |
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