A company has a book value of common equity of $5,000 at the end of 2020 An analyst has estimated that comprehensive income will be $650 in 2021, $800 in 2022, and $900 in 2023. Dividends are estimated to be $100 in 2021, $110 in 2022, and $115 in 2023. The analyst has determined his required return for this company is 14.0%. The analyst assumes after the third year, residual income will grow at 1.5% annually. Using the residual income model, what is the value of the company at the end of 2020? 1 2 3 4 5 5 7 3 2 LO 1 -2 -3 -4 5 -6 7 A company has a book value of common equity of $5,000 at the end of 2020 An analyst has estimated that comprehensive income will be $650 in 2021, $800 in 2022, and $900 in 2023. Dividends are estimated to be $100 in 2021, $110 in 2022, and $115 in 2023. The analyst has determined his required return for this company is 14.0%. The analyst assumes after the third year, residual income will grow at 1.5% annually. Using the residual income model, what is the value of the company at the end of 2020? 1 2 3 4 5 5 7 3 2 LO 1 -2 -3 -4 5 -6 7