Problem 18-15 Calculate the intrinsic value of GE in each of the following scenarios by using the three-stage growth model of Spreadsheet 18.1. Treat each scenario independently. a. The terminal growth rate will be 10.20%. (Round your answer to 2 decimal places.) Intrinsic value b. GE's actual beta is 1.02. (Round your answer to 2 decimal places.) Intrinsic value c. The market risk premium is 10.30%. (Round your answer to 2 decimal places.) Intrinsic value A B D E F G H I 1 Inputs for GE Year Dividend Div growth Term value Investor CF 2 beta 1.1 2017 1.04 1. 04 3 mkt_prem 0.08 2018 1.23 1. 23 4 rf 0.025 2019 1. 41 1. 41 5 k_equity 0. 1130 2020 1. 60 1. 60 6 term gwth 0.060 2021 1. 85 0.1544 1.85 7 2022 2. 11 0. 1450 2. 11 8 2023 2. 40 0. 1355 2. 40 9 2024 2. 70 0. 1261 2. 70 10 2025 3. 02 0. 1166 3. 02 11 2026 3. 34 0. 1072 3. 34 12 Value line 2027 3. 67 0.0978 3. 67 13 forecasts of 2028 3. 99 0.0883 3. 99 14 annual dividends 2029 4. 31 0.0789 4. 31 15 2030 4. 61 0.0694 4. 61 16 2031 4. 89 0.0600 4. 89 17 Transitional period 2032 5. 18 0.0600 103. 57 108. 75 18 with slowing dividend 19 growth 35. 70+ PV of CF 20 Beginning of constant E17 * (1+ F17) / (B5 - F17) 21 growth period NPV (B5, H2:H17) no