Hello!

I am currently doing a practice quiz for an upcoming exam. I'm looking at this question and I'm having some difficulty figuring it out. In another post by CourseHero (https://www.coursehero.com/file/16877937/finnnn/) (P7-19) they have a dividend of $3.00, but for some reason when they use the Gordon Growth Model to calculate their answer, they're using $3.15. Is there any reason for that? Because I can't seem to understand where they're getting the $3.15.

Thank you!

Managementactian and stack value REH Corporatidn's most recent dividend was $1 74 per share its expected annual rate ofdividend growth is 5% and the required return is now i 5% A Variety Of prepdsaic are being considered [w management to redirect the rm's activihes Determine the impact on share price for each oflhe ruiidwmg proposed aclions a. Do nothing, which will leave the key nancial variables unchanged b. Invest In a new machine trial will Increase the dividend growth rate It) 8% and lower Ihe required return to 12% c. Eliminate an unprofitable product line' which will increase the dividend grdwth rate to 7% and raise the required return to 18% d. Merge With anuttier rm, which Will reduce the growth rate to 2% and raise the required return In 19%, e. Acquire a subsidiary operation from another manufacturer The acquisitiun should increase the diVidend growth rate to 9% and increase the required return to 18% a. lfthe rm dnes nothing that will leave the key nancial variables unchanged the value ofthe rm will he 5 (Round to the nearest cent) b. ltthe rm invests in a new machine that will increase the dividend growth rate to 8% and lawerthe required return to 12%, the value 0' the rm Will be 35D, [Round to the narest cent) c. lflhe rm eliminates an unprotable product line that will increase the dividend growth rate to 7% and raise the required ietum to 18%, the value clthe rm will be $ (Round to the nearest cent.) d. lithe nTi merges with andtherrrn that Will reduce the growth rate to 2% and raise the required return to 18% the value of the rm will be $ , [Round to the nearest cent) 9. it the rm acquires a subsid1ary uperalion rrorn another manufacturer that Will increase the dividend growth iatetd 9% and increase the required return to 13%, the Value aflhe tinn will be as (Round to the nearl cent)