Problem 9-20 (calculator version) Jack Hammer invests in a stock that will pay dividends of $3.05 at the end of the first year, $3.40 at the end of the second year, and $3.75 at the end of the third year. Also at the end of the third year he believes he will be able to sell the stock for $55. What is the present value of these future benefits if a discount rate of 12 percent is applied? (Use a Financial calculator to arrive at the answers. Round the final answers to 2 decimal places.) Present value $3.05 $3.40 $3.75 $55.00 Total $