Question: *** SHOW WORK*** Question 29 (1 point) LMC is expected to pay a $1 dividend in year 1, a $2 dividend in year 2, and

***SHOW WORK*** Question 29 (1 point) LMC is expected to pay a***SHOW WORK***

Question 29 (1 point) LMC is expected to pay a $1 dividend in year 1, a $2 dividend in year 2, and a $3 dividend in year 3. After year 3, dividends are expected to grow at the rate of 5% per year. An appropriate required return for the stock is 10%. What should be the value of the stock today? Round your answer to two decimal place and enter it without dollar sign. Your Answer: Answer Question 30 (3 points) Please show your work for the previous

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