Hi, i'm looking for help through this problem below. I also was wondering if anyone had an excel sheet made out to do such a problem. Thanks in advance.

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 2.2500 dividend at that time (D 2.2500) and believes that the dividend will grow by 11.70% for the following two years (D4 and D5). However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.60% per year Goodwin's required return is 12.00%. Fill in the following chart to determine Goodwin's horizon value at the horizon when constant growth begins and the current intrinsic value. To increase the accuracy of your calculations, date carry the dividend values to four decimal places. Term Value Horizon value Current Intrinsic value Assuming that the markets are in equilibrium, Goodwin's current expected dividend 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 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 O Yes