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Rework Table 7.4 for horizon years 1, 2, 3, and 10, assuming that investors expect the dividend and the stock price to increase at only 6% a year and that each investor requires the same 12% expected return. The company will pay a dividend of $2.40 at the end of the first year.

What value would an investor place on the stock?

Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

Problem 7-8 Dividend Discount Model (LO2) Rework Table 7.4 for horizon years 1, 2,3, and 10, assuming that investors expect the dividend and the stock price to increase at only 6% a year and that each investor requires the same 12% expocted return. The company will poy a dividend of $2.40 at the end of the first year. What value would an investor place on the stock? Note: Do not round intermediate calculations. Round your answers to 2 decimal places