Dividend Initiation and Stock Value A firm does not pay a dividend. It is expected to pay its first dividend of $1.15 per share in 2 years, This dividend will grow at 14 percent indefinitely. Using a 16 percent discount rate, compute the current value of this stock. rev: 05-06-2011, 07_16_2012, 04_12_2013_OC_29192 $49.57 $58.65 $50.72 $57.50