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Please solve both parts in 30 minute i will upvote you Q3) (8 points total) J.C. Penney Company is expected to pay a dividend in

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Please solve both parts in 30 minute i will upvote you

Q3) (8 points total) J.C. Penney Company is expected to pay a dividend in year 1 of $1.65, a dividend in year 2 of $1.97, and a dividend in year 3 of $2.54. After year 3, dividends are expected to grow at the rate of 8% per year. An appropriate required return for the stock is 11%. (30) (4 points) What is the present value (from the perspective of today) of the stream of dividends after year 3? (36) (4 points) What should the stock sell for today

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