a_$42.15

b_$15.90

c_$10.43

d_$31.67

e_$21.34

a_$19.83

b_$34.43

c_ $17.43

d_$27.16

e_$42.15

O out of 3 points Question 26 Estimate the intrinsic value for 2019 for Royal, Inc. using the residual income (RIM) model given the following information. Your estimation period is the most recent five years ending in 2018. You have an opportunity cost of 15%. 2013 2014 2015 2016 2017 2018 2019 2020 VALUE UNE PUB. LLC 8.06 7.89 7.91 8.70 8.79 938 9.70 10.05 Sales per sh 2.77 232 1.96 2.13 282 3.07 3.20 3.35 "Cash Flow" per sh 1.65 1.41 1.11 1.17 1.73 1.87 2.05 2.25 Earnings per sh AG 96 1.04 1.12 1.20 1.28 1.36 1.44 1.52 Div'ds Decl'd persh Be .19 .19 30 33 36 .40 .40 Cap'l Spending per sh 11.92 11.33 10.48 9.81 11.92 11.09 10.55 10.75 Book Value per shC Question 25 Estimate the intrinsic value for 2019 for Royal, Inc. using the constant growth model given the following information. Your estimation period is the most recent five years ending in 2018. You have an opportunity cost of 15%. 2013 2014 2015 2016 2017 2018 2019 2020 | VALUE LINE PUB. LLC 8.06 7.89 791 8.70 8.79 938 9.70 10.05 Sales per sh 277 232 1.96 2.13 282 3.07 3.20 3.35 "Cash Flow" per sh 1.65 1.41 1.11 1.17 1.73 1.87 2.05 2.25 Earnings per sh AG 96 1.04 1.12 1.20 1.28 1.36 1.44 1.52 Div'ds Decl'd per sh B, O out of 3 points Question 26 Estimate the intrinsic value for 2019 for Royal, Inc. using the residual income (RIM) model given the following information. Your estimation period is the most recent five years ending in 2018. You have an opportunity cost of 15%. 2013 2014 2015 2016 2017 2018 2019 2020 VALUE UNE PUB. LLC 8.06 7.89 7.91 8.70 8.79 938 9.70 10.05 Sales per sh 2.77 232 1.96 2.13 282 3.07 3.20 3.35 "Cash Flow" per sh 1.65 1.41 1.11 1.17 1.73 1.87 2.05 2.25 Earnings per sh AG 96 1.04 1.12 1.20 1.28 1.36 1.44 1.52 Div'ds Decl'd persh Be .19 .19 30 33 36 .40 .40 Cap'l Spending per sh 11.92 11.33 10.48 9.81 11.92 11.09 10.55 10.75 Book Value per shC Question 25 Estimate the intrinsic value for 2019 for Royal, Inc. using the constant growth model given the following information. Your estimation period is the most recent five years ending in 2018. You have an opportunity cost of 15%. 2013 2014 2015 2016 2017 2018 2019 2020 | VALUE LINE PUB. LLC 8.06 7.89 791 8.70 8.79 938 9.70 10.05 Sales per sh 277 232 1.96 2.13 282 3.07 3.20 3.35 "Cash Flow" per sh 1.65 1.41 1.11 1.17 1.73 1.87 2.05 2.25 Earnings per sh AG 96 1.04 1.12 1.20 1.28 1.36 1.44 1.52 Div'ds Decl'd per sh B