Rework Table $7\mathrm{.}4$ for horizon years $1,2,3,$ and $10,$ assuming that investors expect the dividend and the stock price to increase at only

$6\%$ a year and that each investor requires the same $12\%$ expected return. The company will pay a dividend of $$5\mathrm{.}70$ at the end of the

first year.

What value would an investor place on the stock?

Note: Do not round intermediate calculations. Round your answers to $2$ decimal places.