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An investor has examined Home Depot stock and makes the following predictions for the future:

YEAR1234
DIVIDEND $1.44 $1.59 $1.58 $1.50

The investor believes the selling price in four years will be $77.09. If the investor wants a 14.00% return to hold the stock, what intrinsic value does the investor put on Home Depot today?

Financial Management, Finance

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