Rework Table 7.4 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 $2.40 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.

Fill in chart.

Problem 7.8 Dividend Discount Model (LO2) Rework Table 7,4 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% expocted return. The company will poy a dividend of $2.40 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