NO.PZ2018103102000037
问题如下：
Steve is considering adding TMT Inc. in his portfolio. The company’s last dividend payment is 1.45 per share. He notes that the company’s dividends have increased at an average rate of 6 percent. Steve estimated the required return on equity for TMT Inc. is 12%. Based on the information, estimate the TMT Inc’s stock’s value?
选项：
A.$25.62
B.$34.21
C.$15.78
解释：
A is correct.
考点：DDM,The Gordon Growth Model Equation The & Implied Dividend Growth Rate
解析：A是正确的。使用戈登增长模型计算股票价值V0=D1/(r-g)=1.45(1.06)/(0.12-0.06)=25.62
