question 20

Quebec Enterprises expects to pay stockholders a dividend of $5.50 for the next two years. In year three, the dividend will be $6.50. You plan to buy the stock today and hold it for three years, and then sell. You expect the price to be about $76.00 when you sell. What is the most you would pay for this stock if you can earn 10% on investments of similar risk? Round values in intermediate calculations to four decimal places. Round the answer to two decimal places. Your answer will have 2 decimals. No $ signs