推 hchs31705:第二排的分別是第四五六年所以是折四五六次 01/07 16:57
Future Corp. just paid a dividend of $2 on its stock. The growth rate in
dividends is expected to be a constant 4 percent per year, indefinitely.
Investors required return is 14 percent for the first three years, a 12
percent return for the next three years, and then an 8 percent return
thereafter. What is the current share price for the stock?
我是這樣算:
2*(1+4％)/(1.14)+ 2*(1+4％)^2/(1.14)^2+2*(1+4％)^3/(1.14)^3
+2*(1+4％)^3/(1.12)+ 2/*(1.14)^4/(1.12)^2+2*(1.14)^5/(1.12)^3
+2*(1.14)^5/(1.08)^5
我不是很清楚折現要算第幾年??是這樣算嗎?
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