Equity reading 33 Q22

Reading 33 question 22:

this question is asking to calculate terminal value…why is it that this answer represents the value of the stock at the end of the 8th year? perhaps I’m just not understanding what they mean by terminal value…

I thought it was supposed to be the present value of all the cash flows…any input is helpful

Your investiment has 2 sources of value: future dividends, and sale of the underlying. Terminal value is the amount you will receive for that future sale

You just skipped straight to the question and did read anything in the chapter didnt you?