What is the net present value of these dividends

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Reference no: EM132018343

Firm M intends to pay a dividend of $2.5 per share at the end of the year, $3.89 per share two years from now and $3.23 per share three years from now. If the required return on the stock is 5.2%, what is the net present value (i.e., sum of the present values) of these dividends? Round your answer to the nearest cent.

Reference no: EM132018343

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