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欲溺之鱼 · 2021年02月18日

这个不是二阶段模型吗?为什么是从2018年开始计算D0呢?能不能画个图解释一下,我这边画图是这样的,哪里有问题吗?

* 问题详情,请 查看题干

NO.PZ201710200100000205

问题如下:

5. Under Scenario 2 and based on Exhibit 2, Withers estimates that the value of the Venus Company stock to be closest to:

选项:

A.

USD 69.73.

B.

USD 71.03.

C.

USD 72.98.

解释:

B is correct based on the present value of forecasted dividends. The dividend at the end of 2017, based on case material, is USD 3.15 per share.



我感觉你这边答案列的表格是三阶段模型了啊,总感觉不对劲

1 个答案
已采纳答案

Debrah_品职答疑助手 · 2021年02月18日

嗨,从没放弃的小努力你好:


同学你好,题干说的我们现在站在2017年底进行估值,所以我们不用管2017年度的增速,只需要知道从2018年初开始红利如何增长即可。是三阶段的模型。可以看下面的图片。所以D0=3.15,D1=3.15*(1+6%)=3.339


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虽然现在很辛苦,但努力过的感觉真的很好,加油!


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