How much is one share of stock worth today

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Reference no: EM131513231

Hoosier Hosiery, Inc. plans to pay dividends in the amount of $2.35 one year from today, $2.90 two years from today, and $3.40 three years from today. After the third year, dividend growth will be 5% per year. Investors require a 13% annual return on the stock. How much is one share of stock worth today?

Reference no: EM131513231

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