The following graph shows the value of a stocks dividends over time. The stocks current dividend is $1.00 per share, and dividends are expected to grow at a constant rate of 3.50% per year. The intrinsic value of a stock should equal the sum of the present value (PV) of all of the dividends that a stock is supposed to pay in the future, but many people find it difficult to imagine adding up an infinite number of dividends.

Calculate the present value (PV) of the dividend paid today (D) and the discounted value of the dividends expected to be paid 10, 20, and 50 years from now (D10, D20, D50D10, D20, D50). Assume that the stocks required return (rss) is 10.40%.

Note: Carry and round the calculations to four decimal places.

Time Period	Dividends Expected Future Value	Dividends Expected Present Value
Now
End of Year 10
End of Year 20
End of Year 50