Question 23 of 25 1.5/6 Current Attempt in Progress Sheridan Pharma is a fast-growing drug company. Management forecasts that in the next three years, the company's dividend growth rates will be 30...

Need help finding present value

Extracted text: Question 23 of 25 1.5/6 Current Attempt in Progress Sheridan Pharma is a fast-growing drug company. Management forecasts that in the next three years, the company's dividend growth rates will be 30 percent, 28 percent, and 24 percent, respectively. Last week it paid a dividend of $1.60. After three years, management expects dividend growth to stabilize at a rate of 8 percent. The required rate of return is 13.50 percent. (a) 2 Your answer is partially correct. Compute the dividends for each of the next three years, and calculate their present value. (Round dividends to 3 decimal places, e.g. 15.250. Round present value of dividends to 2 decimal places, e.g. 15.20.) D1 2$ 2.080 D2 24 2.662 D3 2$ 3.301 Present value eTextbook and Media Attempts: unlimited Submit Answer Save for Later Mac DII DD 80 I!!