1. Ivanhoe Corp. is a fast-growing company whose management expects it to grow at a rate of 23 percent over the next two years and then to slow to a growth rate of 17 percent for the following three years. If the last dividend paid by the company was $2.15.

What is the dividend for the 1st year? (Round answer to 3 decimal places, e.g. 15.250.) D1: $______

What is the dividend for the 2nd year? (Round answer to 3 decimal places, e.g. 15.250.) D2: $______

What is the dividend for the 3rd year? (Round answer to 3 decimal places, e.g. 15.250.) D3: $______

What is the dividend for the 4th year? (Round answer to 3 decimal places, e.g. 15.250.) D4: $______

What is the dividend for the 5th year? (Round answer to 3 decimal places, e.g. 15.250.) D5: $______

Compute the present value of these dividends if the required rate of return is 14 percent. (Round intermediate calculations and final answer to 2 decimal places, e.g. 15.25.) Present Value: $______

2. Sheridan, Inc., paid a dividend of $4.20 last year. The company's management does not expect to increase its dividend in the foreseeable future. If the required rate of return is 12.0 percent, what is the current value of the stock? (Round answer to 2 decimal places, e.g. 15.25.) Current Value: $_______