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Problem 8-15 Value of Dividends and Future Price (LG8-5) A firm is expected to pay a dividend of $1.35 next year and $1.50 the following

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Problem 8-15 Value of Dividends and Future Price (LG8-5) A firm is expected to pay a dividend of $1.35 next year and $1.50 the following year. Financial analysts believe the stock will be at their price target of $68 in two years. Compute the value of this stock with a required return of 10 percent. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Value of stock

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