Question: A stock is not expected to pay dividends until three years from now. The dividend is then expected to be $2.00 per share, the dividend

A stock is not expected to pay dividends until three years from now. The dividend is then expected to be $2.00 per share, the dividend payout ratio is expected to be 40%, and the return on equity is expected to be 15%. If the required rate of return is 12%, the value of the stock today is closest to: 66 33 53

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