What is the value today of a stock that will pay a dividend of $2.00 one year from now, a $2.50 dividend in year two and a dividend of $3.50 three years from now if its expected price in year three is $20? The stock has a required rate of return of 8%. $27.77 $22.65 $4.38 $39.56 $6.77 $17.68