NO.PZ2018103102000089
问题如下:
Matt is evaluating the value of Company M by using the dividend discount model. The most recent dividend and the required rate of return are $1.0 per share and 7.5%, respectively. The company will experience a highly growth of 5% during the first three years. Thereafter, the dividend growth rate would be 3% per year into the indefinite future. What`s the value of Company M?
选项:
A.$22.66
B.$24.15
C.$25.15
解释:
B is correct.
考点:Two Stage Model
解析:
=26.44
=24.15
老师,我用计算器求NPV.输入了CF0=1,CO1=1.05 CO2=1.1025 CO3=27.6544 I=7.5 , 得出的答案是25.145。 但是CF0如果输入0 的话就能得出B的答案。想问下老师,为什么CF0不是输入1 呢?