All answers have to be in the format of an Excel formula

Variable Growth Excel ? Sign In FILE INSERT OE PAGE LAYOUT FORMULAS DATA REVIEW VIEW A A % Calibri 11 Conditional Format as Cell I U Alignment Number Paste Cells Editing Formatting Table Styles Clipboard Font Styles Cells fr A1 A B D F G A fast-growing firm recently paid a dividend of $0.95 per share. The dividend is expected to increase at a 15 percent rate for the next three years. Afterwards, a more stable 10 percent growth rate can be assumed. 4 If an 11 percent discount rate is appropriate for this stock, what is its value today? (Do not round intermediate calculations and round your final answer to 2 decimal places.) 5 6 $ Latest dividend 0.95 7 15.00% Non-constant growth rate Length of time nonconstant growth rate lasts for (in years) Eventual constant growth rate 8 3 9 10.00% 10 11.00% Discount rate 11 12 13 Complete the following analysis. Do not hard code values in your calculations. Assume that the period of nonconstant growth will last no more than 5 years 14 15 16 Time Period Dividend 17 1 18 Sheet1 4 .. X Variable Growth - Excel FILE DATA Sign In HOME INSERT PAGE LAYOUT FORMULAS VIEW REVIEW A A % Calibri 11 Conditional Format as Formatting Table Cell Paste I U Alignment Number Cells Editing Styles Clipboard Styles Font A1 A H C G 5 6 0.95 Latest dividend 7 Non-constant growth rate Length of time nonconstant growth rate lasts for (in years) Eventual constant growth rate 15.00% 3 9 10.00% 10 Discount rate 11.00% 11 12 13 14 Complete the following analysis. Do not hard code values in your calculations. Assume that the period of nonconstant growth will last no more than 5 years. 15 16 Dividend Time Period 17 1 18 2 19 20 4 21 5 22 6 23 Value at time 5 24 Value today 25 26 27 Sheet1 4 T