# Math

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Jack Hammer invests in a stock that will pay dividends of \$2.00 at the end of the first year; \$2.20 at the end of the second year; and \$2.40 at the end of the third year. Also, he believes that at the end of the third year he will be able to sell the stock for \$33. What is the present value of all future benefits if a discount rate of 11 percent is applied?

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