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You expect a stock to distribute $ 1 0 cash dividend after one year and $ 1 5 cash dividend after two years. The expected

You expect a stock to distribute $

10

cash dividend after one year and $

15

cash

dividend after two years. The expected share price is $

80

after two years. If the annual discount

rate is

13 %,

what is the value of this stock

(

.

.

the stock price today

) ?

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