Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to pay its first dividend three years from now. She expects Goodwin to pay a $3.50000 dividend at that time (D = $3.50000) and believes that the dividend will grow by 18.20000% for the following two years (D and D). However, after the fifth year, she expects Goodwins dividend to grow at a constant rate of 3.90000% per year. Goodwins required return is 13.00000%. Fill in the following chart to determine Goodwins horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your calculations, do not

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8. Stocks that don't pay dividends yet Goodwin Technologies, a relatively young company, has been wildy successfut but has yet to pay a dividend, An analyst forecasts that Goodwin is Whely to pay its first dividend three years from now, $ he expects Goodwin to pay a $3.50000 cividend at that time (0,$3.50000) and believes that the dividend will grow by 18.20000w for the following two years ( D, and D ). However, after the firch year, she expects coodwin's dividend to grow at a constent rate of 3.90000s per year. Goodwint required retum is 13.00000%. Fil in the following chart to determine Goodwin's horizon value at the hortzon 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 at final answers to two decimal places. Assuming that the markets are in equilibrium, Goodwin's current expected ovidend yeld is , and Goodwin's capital gains yeid is Goodwin has been very successfu, but it hasn't paid a dividend yet, it circulates a report to its key investors containing the following statement: Goodwin's investment opportunities are poor. Is this stavement a possible explanation for why the frm hash? paid a dividend yet? Yes No Goodwin Technologies, a relatively young company, has been wildy successful but has yet to pay a dividend. An analyst forecasts that Goodwin is Thely to poy its first eividend three vears form now. She expects Goodwin to pay a $3.50000 dlvidend at that time (0, =$3.30000) and believes that the eividend will grow by 18:20000 s for the following two years ( D, and D ). However, after the fifth year, she expects Coodwin's dividend to grow at a constant rate of 3.90000% per year. Coodwin's required return is 13.00000%. Fill in the following chart to determine Geodwin's horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your caiculations, do not round your intermediate calculations, but round all final answers to two decmal places. Assuming that the markets are in equilibrium, Goodwin's current expected dividend yield is , and Coedwin's capital gains yeld is Cooden has been very successful, but it hasn't paid a dividend vet. It circulates a report to its key investors containing the following statement: Coodwin's investment opportunities are poor Is this atatement a postible explanation for why the firm hasnt paid a dividend yet? Yes +10