You expect a stock to pay dividends of $0.80, $1.20, $1.85, $2.00 over the next 4 years. You will receive the first dividend exactly 1 var from now. You expect the stock to sell for a price of $47.75 four vears from now.

If the required return is 12%, what is the price of the stock today?

Please use excel and show the formula used