Exercise $1$: valuing a share of a stock $(P)$ that pays a dividend and you expect to hold it for one period assume you expect the dividend to be $$1$ in one year $($not right away, but wait one year out$)$ you expect to sell$/$receive $$18$ for one share of this stock in one year you have a required return of $10\%($for investments of similar risk$)$ how much should you pay for this one share? You don't want to pay too much...

Answer: $P=$