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9. Stocks that don't pay dividends yet 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 $3.00000 dividend at that time (D1=$3.00000) and believes that the dividend will grow by 15.60000% for the following two years ( D4 and D1 ). However, after the fith year, she expects Goodwin's dividend to grow at a constant rate of 3.78000% per year. Goodwin's required retum is 12.60000%. Fil in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinbic value. To increase the accuracy of your calculations, do not round your intermediate calculations, but round all final answers to two decimal places. Goodwin has been very suc $40.09 tit hasnt paid a dividend yet. It drculates a report to its key investors containing the following statement: Goodwin has a large selection of profitable investment opportunities. 9. Stoclcs that don't pay dividends yet 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 $3.00000 dividend at that time (D, = $3.00000) and belleves that the dividend will grow by 15.60000% for the following two years ( D4 and D1). However, after the fift year, she expects Goodwin's dividend to grow at a constant rate of 3.7800046 per year. Goodwin's required retum is 12.60000%. Fil in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your calculations, do not round your intermediate caloulations, but round all final answers to two decimal places. Goodwin has a large selection of profitable investment opportunities. 9. Stocks that don't pay dividends yet Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forocasts that Goodwin is Iikely to pay its first dividend three years from now. She expects Goodwin to pay a $3.00000 dividend at that time (D1=$3.00000) and believes that the dividend will grow by 15.60000% for the following two years ( D, and D2). Howeves, after the fith year, she expects Goodwin's dividend to grow at a constant rate of 3.78000% per year. Goodwin's required retum is 12.60000\%. Fill in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinisic value. To increase the accuracy of your calculotions, do not round your intermediate calculations, but round all final answers to two decimal places. 9. Stocks that don't pay dividende yet 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 $3.00000 dividend at that time (D3=$3.00000) and believes that the dividend will grow by 15.60000% for the following two years (D. and D.). However, after the fith year, she expects Goodwin's dividend to grow at a constant rate of 3.780004 per year. Goodwin's required retum is 12.60000%. Fil in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinsle value. To increase the accuracy of your calculations, do not round your intermediate calculations, but round all final answers to two decimal places. Astuming that the markets are in equilibrium, Goodwin's current expected dividend yield is , and Goodwin's capital gains yleld is \begin{tabular}{|l|l|l} \hline 47.17%6 & pen very successful, but it hasn't paid a dividend yet. It circulates a report to its key investors containing the following statement: \\ \hline 12.60000% & \\ \hline 26.0600% & s a large selection of profitable investment opportunities. \\ \hline 32.53% & \end{tabular} a constant rate of 3.78000% per year. Goodwin's required return is 12.60000%. Alt in the following chart to determine Goodwin's hortzon value at the horizon date (inten constant growch begins) and the current intrinsic value. To increase the acauncy of your calculations, do not round your intermediate calaulations, but round all final answers to two dedmal places. Assuming that the markets are in equilibrium, Goodwin's current expected dividend yleld is , and Goodwin's capital gains yleld is Goodwin has been very successful, but it hasn' paid a dividend yet. It drculates a report to its key investors containing the following statement: Goodwin has a large selection of proftable investment opportunities. Is this statement a possible explanation for why the firm hasn't paid a dividend yet? Yes No