Question: Stock problem, the solving processes are really necessary to me for applying another problems, thanks! (The correct answer is 47.19, and I just want to
Stock problem, the solving processes are really necessary to me for applying another problems, thanks!
(The correct answer is 47.19, and I just want to know the solving process)

Suppose the goddess tells you the following information about a stock: Year Dividend 1 $2 2 $2 3 $3 She also tells you that the stock will sell for $55 at three years from now If you require a 13% return to invest in this stock, what do you expect the price of the stock to be one year from now (P1)? Answer to 2 decimal places, for example 49.12
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