NO.PZ2018062002000164
问题如下:
The anderson corporation just paid a dividend of $2. If the required rate of return is 14% per year,the dividend is expected to grow indefinitely at a constant rate of 8% per year.The intrinsic value of the shares of anderson is closest to:
选项:
A.$25
B.$60
C.$36
解释:
C is correct.
P0 = D1/(r – g) = 2(1.08)/(0.14 – 0.08) = $36.
考点:GGM
“just paid”就是刚刚支付的意思,就是D0,而D1开始是未来没有发放的股利,我们要对做他们预测,因此D1=D0(1+g).
为什么不用V0=D0/r??用2/0.14??