The bonds istued by United Coep, bear a coupon of s percent, payable semiannually. The bond matures in 20 years and has a $1,000 face value. Currently, the bond sells at 19S0. The vield th maturity (CTM) is x A stock is expected to pay dividends of $1.20 per shure in Year 1 and $1.35 per share in Vear 2 . After that the dividend is expected to increase by 2.5% annually. What is the current value of the stock at a discount rate of tisis