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A firm is expected to pay a dividend of $2.55 next year and $2.85 the following...

A firm is expected to pay a dividend of $2.55 next year and $2.85 the following year. Financial analysts believe the stock will be at their price target of $115 in two years.

Compute the value of this stock with a required return of 11.5 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Value of stock $ ?
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