arrett Corp. At the end of 2010 Jarrett Corp. developed the following forecasts of net income: Forecasted Year Net Income 2011 $20,856 2012 $22,733 2013 $24,552 2014 $27,252 2015 $29,978 Management believes that after 2015 Jarrett will grow at a rate of 7% each year. Total common shareholders' equity was $112,768 on December 31, 2010. Jarrett has not established a dividend and does not plan to paying dividends during 2011 to 2015. Its cost of equity capital is 12%. Compute the value of Jarrett Corp. on January 1, 2011, using the residual income valuation model. Use the half-year adjustment