Question: Problem 9-20 (calculator version) Jack Hammer invests in a stock that will pay dividends of $3.08 at the end of the first year; $3.46 at

Problem 9-20 (calculator version) Jack Hammer invests in a stock that

Problem 9-20 (calculator version) 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 at the end of the third year he believes he will be able to sell the stock for $58. What is the present value of these future benefits if a discount rate of 8 percent is applied? (Use a Financial calculator to arrive at the answers. Round the final answers to 2 decimal places.) Present value $3.08 $3.46 $3.84 $58.00 Total $

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