(Answered) A firm is expected to pay a dividend of 175 next year and

Accounting

A firm is expected to pay a dividend of $1.75 next year and $1.90 the following year. Financial analysts believe the stock will be at their price target of $60 in two years.

Compute the value of this stock with a required return of 11.7 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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