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Goodwn Technologies, a relatively young company, has been wildy successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to

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Goodwn Technologies, a relatively young company, has been wildy successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to poy its first dividend three years from now. She expects Goodwin to pay a $3.00000 dividend at that time (Da =$3.00000) and believes that the dividend will grow by 15.60000\% for the following two years (D. and Ds). However, after the fitth year, she eapects Goodwin's dividend to grow at a constant rate of 3.28000% per year. Goodwin's requined return is 12.60000%. Fill in the following chart to determine Goodwin's hotizon value at the horlzon date (when constant gronth begins) and the current intrinsic value. To increase the accuracy of your calculabons, do not round your intermedate caloulations, but round all final answers to two decimal places. Assuming that the markets are in egubbrium, Gbedwin't eurrent expected dividend vield is a sred Geodwir's eapital gains yield is Geodwin has been very successful, bet it hasn) paid a dividend yet. It dirodates a repent to its hey investors centaining the following statement! Gosdwin has yet to recard a profa (positive aet incorne). Is this atatement a possible explanetisn for why the firm hase't paid a dividend yet? No

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