NO.PZ201512300100001204
问题如下：
4. Based upon the information in Exhibit 2, the intrinsic value per share of the equity of Jackson Breweries is closest to:
选项：
A.R97.67.
B.R130.22.
C.R186.03.
解释：
With a single-stage residual income (RI) model, the intrinsic value, V0, is calculated assuming a constant return on equity (ROE) and a constant earnings growth (g).
V=B0+(ROE-r)*B0/（r-g）
这部分里的等式右边的第二项
为啥分子不乘以（1+g）
类比GGM， 终值计算应该是 RI1/（r-g） 也就等于 RI0*（1+g）/（r-g）
