Jack Hammer invests in a stock that will pay dividends of $$3\mathrm{.}05$ at the end of the first year; $$3\mathrm{.}40$ at the end of the second yeard $$3\mathrm{.}75$ at the end of the third year. Also, he believes that at the end of the third year he will be able to sell the stock for $$55.$

What is the present value of all future benefits if a discount rate of $12$ percent is applied? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Note: Do not round intermediate calculations. Round your final answers to $2$ decimal places.

$\backslash$table$[[$Dividend$,$Present Value$],[$$$,3\mathrm{.}05,],[,3\mathrm{.}40,],[,3\mathrm{.}75,],[,55\mathrm{.}00,],[$Total$,,0\mathrm{.}00]]$