1. Here you go - the non-constant DDM: Jonestown, Inc.s current dividend of $2.50 is expected to grow 20% for the next 5 years and then fall to 10% thereafter. If the investors required rate of return is 14%, what is Jonestowns intrinsic value (what would you pay for the stock today)?

   	a.	$92.15
   	b.	$185.62
   	c.	$103.46
   	d.	$48.86