1. You bought Target stock 3 years ago. In the first year, you collected a dividend of $2.48, the second year, you collected a dividend of $2.56. the third year you collected a dividend of $2.64 and sold the stock for $120.13. (Hint: this means your third year cash flow was $122.77.) If you earned a return of 6.5% per year, how much did you buy the stock for 3 years ago?

(I think the formula needed to be used is below)

PV=FV(1+r)t