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Compute the expected dividend for the second year

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Ted McKay has just bought the common stock of Sunland Corp. Management of Sunland expects the company expects to grow at the following rates for the next three years: 40 percent, 35 percent, and 25 percent. Last year the company paid a dividend of $2.20. Assume a required rate of return of 12 percent:

Question 1: Compute the expected dividend for the first year. (Round answer to 2 decimal places).

Question 2: Compute the expected dividend for the second year. (Round answer to 2 decimal places).

Question 3: Compute the expected dividend for the third year. (Round answer to 2 decimal places).

Question 4: Compute the present value of these dividends if the required rate of return is 12 percent. (Round answer to 2 decimal places).

Reference no: EM132496206

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