Question: 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

Problem 9-23 Present value [LO9-3] Jack Hammer Invests in a stock

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 B 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.) Dividend Present Value $ 3.08 3.46 3.84 58.00 Total

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