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8/16 HELP! I HAVE A TIMED ASSIGNMENT. THERE ARE OTHER QUESTIONS POSTED. THANK YOU! Penny's Cheesecake Corp. just paid a dividend of $1.00 per share.

8/16 HELP! I HAVE A TIMED ASSIGNMENT. THERE ARE OTHER QUESTIONS POSTED. THANK YOU!

Penny's Cheesecake Corp. just paid a dividend of $1.00 per share. The dividend is expected to grow at a rate of 24% per year for the next three years and then to level off to 5% per year forever. What is the intrinsic value of a share of Penny Cheesecake stock if the appropriate market capitalization rate is 19% per year? (Use intermediate calculations rounded to 4 decimal places. Round your answer to 2 decimal places.) Intrinsic value per share

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