Question 17 (5 points) Fowler and Woods Enterprises is a publicly traded company that just paid a 52.00 per share dividend. The compuy is expected to increase its dividend by 25% per year for the next two years. After the secood year, the diridend gounth rate will be 5% per year for the next two years. After the 4th year, dividends art expected to grow at a coastant rate of 3% into the foreseeable future. An analyst estimates that investors in the fimm will require a 12% annul retum. Based on this information, what is the intrinsic value of the stock today? $29.19 $31.70 $36.55 $35.68 $34.31 Page 17 of 29