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Please use Excel if possible...easier for me to follow/learn. You have just purchased a share of stock for $21.21. The company is expected to pay

image text in transcribedPlease use Excel if possible...easier for me to follow/learn.

You have just purchased a share of stock for $21.21. The company is expected to pay a dividend of $0.56 per share in exactly one year. If you want to earn a 9.9% return on your investment, what price do you need if you expect to sell the share immediately after it pays the dividend? The price one year from now should be $. (Round to the nearest cent.)

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