Question: Suppose a company's expected dividend pattern for three year is as follows: D1 - $3, D2 - $6, D3 - $8. After 3 years, the

Suppose a company's expected dividend pattern for three year is as follows: D1 - $3, D2 - $6, D3 - $8. After 3 years, the dividends are expected to growth at a constant rate of 6% a year. What should the current price of the firm's stock be if the required rate of return demanded by investors is 13%? (Round final answer to two decimal places) $87.28 $98.54 $105.21 $96.86

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