问题如下：
4. Under her Scenario 1 and based on Exhibit 2, the required rate of return that Withers used for Venus Company stock valuation is closest to:
选项：
A.8.0%.
B.9.6%.
C.10.0%.
解释：
C is correct, based on Exhibit 2 and the H-model.
Estimate the required rate of return using Equation:
r = (D0/P0)[(1 + gL) + H (gS - gL)] + gL
Substitute the following:
D0 = 3.15
gS = 8%
gL = 4%
H = 4 ÷ 2 = 2
The model thus produces
r =(3.15/58.79) [(1 + 0.04) + 2 (0.08 - 0.04)] + 0.04
= (0.053581 × 1.12) + 0.04
= 0.060010 + 0.04 = 0.10001 ≈ 10%
老师，H-model公式换算求r = {(D0)[(1 + gL) + H (gS - gL)]}/P0 + gL？不应该是答案里的D0/P0吧？
