Question: Question 3 2 pts A stock is expected to pay the following dividends: $1.0 in 1 year, $1.6 in 2 years, and $2.0 in 3

Question 3 2 pts A stock is expected to pay the

Question 3 2 pts A stock is expected to pay the following dividends: $1.0 in 1 year, $1.6 in 2 years, and $2.0 in 3 years, followed by growth in the dividend of 5% per year forever after that point. The stock's required return is 11%. The stock's current price (Price at year O) should be $ Do not round any intermediate work, but round your final answer to 2 decimal places (ex: 12.34567 should be entered as 12.35). Margin of error for correct responses: +/- .10

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