. Calculate the price of a stock that has a two-year horizon, and is expected to pay a dividend of $5.50 per share during the first year, and $6.50 per share for the second year. The following prices and associated probabilities are forecast for the end of the two-year period:

Probability	0.15	0.25	0.1	0.3	0.2
Price	$25	$35	$50	$70	$85

The return on comparable stocks is 11%.