Also assume that the investors required rate of return on


What is the present value of 100 shares of stock that will pay an annual dividend of $5 per share and will be sold in 8 years for $80 per share? Assume that the investor receives the last dividend on the same day that the stock is sold. Also assume that the investor’s required rate of return on this investment is 8.25%. Round your answer to the nearest cent.

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Financial Management: Also assume that the investors required rate of return on
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