ASAP!!!

1. Using a constant growth dividend model, what growth rate in dividends is implied by the current share price of $44.48? How does this growth rate compare with rates implied from consensus analyst forecasts in case Exhibit 8? Use the following assumptions to calculate the growth rate:
   1. Required return is 8%
   2. Constant growth rate is 3%

Exhibit 8: Harley-Davidson Inc. Consensus Forecasts, 20182023 (US$) LTM Consensus for 12 Months Ending July 1, 2018 July 1, 2019 July 1, 2020 July 1, 2021 July 1, 2022 July 1, 2023 Earings per Share 2.92 3.18 3.56 4.06 4.34 4.65 Dividends per Share 1.47 1.50 1.56 1.80 1.95 2.10 Note: LTM = last 12 months Source: Harley-Davidson Inc., "Consensus Forecasts for Harley-Davidson, Inc., " Institutional Brokers Estimate System, accessed July 29, 2019