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 $3.7500 dividend at that time (D3-$3.7500) and believes that the dividend will grow by 19.50% for the following two years (Ds and Ds). However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.96% per year. Goodwin's required return is 13.20%. Fill in the following chart to determine Goodwin's horizon value atthe horizon date-when constant growth begins-and the current intrinsic value. To increase the accuracy of your calculations carry the dividend values to four decimal places. Term Value Horizon value 560.25 Current Intrinsic value $40.6 Assuming that the markets are in equilibrium, Goodwin's current expected dividend yield is Goodwin's capital gains yield is and Goodwin has been very successful, but it hasn't paid a dividend yet. It circulates a report to its key investors containing the following statement: Goodwin has a large selection of profitable investment opportunities. Is this statement a possible explanation for why the firm hasn't paid a dividend yet? O No