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5. DMC3 Inc. will pay no dividend for 2016 or 2017. At the end of 2018, it will pay a dividend of $1.50. Thereafter dividends

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5. DMC3 Inc. will pay no dividend for 2016 or 2017. At the end of 2018, it will pay a dividend of $1.50. Thereafter dividends will grow at 4% per year The required rate of return is 10%. The intrinsic value of DMC3 shares is (assume you are at the beginning of 2016) a. $24.91 b. $26.00 c. $20.66 d. $34.61

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