Goodwin Technologies 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 expectes Goodwin to pay a $2.2500 dividend at that time and believes that the dividend will grow by 11.70% for the following two years. However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.60% per year. Good win's required return is 12.00%. 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, carry the dividend value to four decimal places. Horizon value: ? Current Intrinsic value: ? Assuming that the markets are in equilibrium, Goodwin's current expected dividen yield is ?, and Goodwin's capital gains yield is? 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's investment opportunities are poor. Is this statement a possible explanation for why the firm hasn't paid a dividend yet? No or yes