Expected Growth for the NEXT TWO (2) years 45.0000%

Expected Growth in the THIRD (3) year 25.0000%

Constant Growth in Year FOUR (4) and thereafter 15.0000%

LAST dividend PAID $8.75

REQUIRED rate of return 22.0000%

• CALCULATE the $VALUE of the STOCK as of TODAY
• CALCULATE the DIVIDEND YIELD and CAPITAL GAINS YIELD at TIME 0
• CALCULATE the DIVIDEND YIELD and CAPITAL GAINS YIELD at TIME 3

SUPER-NORMAL STOCK PRICE$ at TIME 0 ____________________________

AT TIME 0 what is the Dividend YIELD? ____________________________

AT TIME 0 what is the CAPITAL GAINS YIELD? ____________________________

AT TIME 3 what is the Dividend YIELD? ____________________________

AT TIME 3 what is the CAPITAL GAINS YIELD? ______________________