No.PZ2015122802000167 (选择题)
来源:
An analyst is attempting to value shares of the Dominion Company. The company has just paid a dividend of $0.58 per share. Dividends are expected to grow by 20 percent next year and 15 percent the year after that. From the third year onward, dividends are expected to grow at 5.6 percent per year indefinitely. If the required rate of return is 8.3 percent, the intrinsic value of the stock is closest to:
C1=0.7,C2=0.8+31.29, I=8.3 CPT NPV 【问】计算过程里为啥不以0.58 为C1呢？
