Problem 9-23 (Algo) Present value [LO9-3] Jack Hammer invests in a stock that will pay dividends of $318 at the end of the first year, $3.66 at the end of the second year, and $4.14 at the end of the third yeat Also. he believes that at the end of the third year he will be able to sell the stock for $68 What is the present value of all future benefits if a discount rate of 11 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 calculotions. Round your final answers to 2 decimol places