Portman Industries just paid a dividend of $2.16 per share. The company expects the coming year to be very profitable, and its dividend is expected to grow by 20% over the next year. After the next year, though, Portman's dividend is expected to grow at a constant rate of 4.00% per year. The risk-free rate is 5.00%, the market risk emium is 6.00%, and Portman's beta is 1.30. Assuming that the market is in equilibrium, use the information just given to complete the table.

Term	Value
1a.Dividends one year from now (D1)	?
1b.Horizon Value	?
1c.Intrinsic value of portmans stock	?

2. What is the expected dividend yield for Portman's stock today?

a. 9.55%

b. 7.04%

c. 8.80%

d. 8.46%