You’ll still have to calculate the individual dividends, then use them as cash flows in an NPV calculation. Here, the cash flows are $3.24, $3.50, and $36.78, and the NPV is:

I was in class today, typing that whilst my students were working on their in-class assignments. I firmly believe that there are gremlins in the school computer that changed all of my _15%_s to _8%_s.

So you calculate the future cashflows, then discount them back at the required rate of return. I get that, but what’s the reasoning behind leaving out the current divident of $3? It was already paid?