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please show steps Problem 3. You expect a stock to pay dividends of $1.00, $1.40, $1.65, $2.10 and $3.60 over the next 5 years. You
please show steps
Problem 3. You expect a stock to pay dividends of $1.00, $1.40, $1.65, $2.10 and $3.60 over the next 5 years. You will receive the first dividend exactly 1 year from now. You expect the stock to sell for a price of $68.50 five years from now. (a) If the required return is 11%, what is the price of the stock today? Put your answer here (b) What is the expected price next year? Put your answer hereStep by Step Solution
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