Question: nep Problem 9-23 Present value [LO9-3] Jack Hammer invests in a stock that will pay dividends of $3.08 at the end of the first year;

nep Problem 9-23 Present value [LO9-3] Jack Hammer invests in a stock that will pay dividends of $3.08 at the end of the first year; $3.46 at the end of the second year, and $3.84 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 $58. What is the present value of all future benefits if a discount rate of 8 percent is applied? Use Appendix 8 for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) eBook Dividend Present Value $ 3.08 3.46 3.84 Print 58.00 References 7 10 points Total bave & Ext Submit Check my work

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