Calculate the intrinsic value of GE in each of the following scenarios by using the three-stage growth model of Spreadsheet 18.1. Treat each scenario independently. a. The terminal growth rate will be 9.40%. (Round your answer to 2 decimal places.) Intrinsic value b. GE's actual beta is 1.05. (Round your answer to 2 decimal places.) Intrinsic value c. The market risk premium is 9.50%. (Round your answer to 2 decimal places.) Intrinsic value Year 2017 Dividend Div growth Term value 1.04 Investor CF 1.04 1.1 0.08 2018 1.23 1.23 Inputs for GE beta mkt_prem rf k_equity term_gwth 0.025 2019 1.41 0.1130 2020 1.60 1.41 1.60 1.85 0.060 2021 1.85 0.1544 2022 2.11 2.11 2023 2024 2025 2026 0.1450 0.1355 0.1261 0.1166 0.1072 2.40 2.70 3.02 3.34 2027 0.0978 Value line forecasts of annual dividends 2.40 2.70 3.02 3.34 3.67 3.99 4.31 4.61 4.89 5.18 2028 2029 0.0883 0.0789 0.0694 0.0600 0.0600 2030 3.67 3.99 4.31 4.61 4.89 108.75 2031 2032 103.57 Transitional period with slowing dividend growth Beginning of constant growth period 35.70 = PV of CF E17 * (1+ F17)/(B5 - F17) NPV(B5,H2:H17)