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A firm is expected to pay a dividend of $3.35 next year and $3.65 the following year

A firm is expected to pay a dividend of $3.35 next year and $3.65 the following year. Financial analysts believe the stock will be at their price target of $110 in two years.

Compute the value of this stock with a required return of 12.7 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

 
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