Excel online structured Activityi Noncenstant growith Open vpreadsheet s Nonconstant growth \begin{tabular}{|l|r|} \hline Year 3 Dividend, D, & $0.50 \\ \hline Supernormal growth rate, 9. & 18.00% \\ \hline Nomal growth rale, 9 . & 8.00% \\ \hline Required retum, is & 16.00% \\ \hline \end{tabular} Dividends P. Cash tlows to common sfocholder: PV of cash fows to common stockholders Stock Price, Pll Altematively using Excel NPV function Stock Price, P0 Formulas Dividends Pi Cash flows fo common stockholders PV of cash fows to conmon stochholders