Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecasts that Gootwin is likely to pay its first dividend three years from now. She expects Goodwin to pay a 51.75000 dividend at that time (D3 = $1.75000) and believes that the dividend will grow by 9.10000% for the following two years (D4 and Ds). However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.480000 per year: Goodwin's required retum is 11.60000%. Fill in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your calculations, do not round your intermediate calculations, but round all final answers to two decimal pleces: If investors expect a total return of 12.60%, whet will be Goodwin's expected dividend and capital gains yield in two years-that is, the year before the firm begins paying dividends? Again, remember to carry out the dividend values to four decimal places. (Hint: You are at year 2 , and the first dividend is expected to be paid at the end of the year. Find DYa and CGY3.) Expected dividend yield (DY3) Expected copital gains yield (CGY) Investors prefer the deferred tax liability that capital gains offer over dividends. Is this statement a possible explanation for why the firm hasn't paid a dividend yet? Yes: No