Provide your answers/solutions in the answer space provided below.

1. Suppose you are thinking of purchasing the Moore Co.s common stock today. If you expect Moore to pay $2.5, $2.7, $2.9, $3.1, and $3.3 dividends at the end of year one, two, three, four, and five respectively and you believe that you can sell the stock for $82 at the end of year five. If you required return on this investment is 9%, how much will you be willing to pay for the stock today?