Nonconstant Growth Stock Valuation Simpkins Corporation does not pay any dividends because it is expanding rapidly and not to retain all of its earnings. However, wespe dividends, with the first dividend of 51.25 coming 3 years from today. The dividend should grow rapidly to per dag company should grow at a constant rate of 9% per year. If the required return on the stock is what the value of the stock today that with the required retum equal to the expected return)? Do not round intermediate calculations. Round your awer to the rest omt $ 38.87 Value of Operations Kendra Enterprises has never poida dividend. Free cash flow is projected to be 540,000 and $100,000 for the next 2 years, cepectively, after the contexto expected to grow a constant rate of 8%. The company's weighted average cost of capitals 12 a. What is the terminal, or horizon, value of operationa? Contrond the value of all free onshows beyond Year 3 dicounted back to Year 2) Hound your own the nearest cent $ b. Calculate the value of Kendra's operations. Do not round intermediate calculations, Round your answer to the earl