Answer:
$5.64
Step-by-step explanation:
The computation of the one share of this stock today is shown below:
Year Amount Present value factor @8.8% Present value
1 $3.20 0.9191 $2.94
2 $3.20 0.8448 $2.70
Present value $5.64
The present value is
= 1 รท (1 + interest rate)^years