fx 4 A B D E H 1 K M N 0 P R 1 2 3 4 5 6 2 8 9 10 11 12 11 Points Max 10 Count Pressent Value of the stock X You expect saling price of the stock in four years from now 2500 cek The last dividend that has been paid out equals 100 ezk. Expected rate on return of the same risk stock equals 12 Since now you expect growth rate of the dividends 6 % a year for following four years. owner of the stock may expect in following years tour dividends and the selling price estimate is based on the assumption that the stock would be sold immediately after fourth dividend payout. Is itfarouble to buy the stock for 1500 cak now