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Rework Table 7.4 for horizon years 1, 2, 3, and 10, assuming that investors expect the dividend and the stock price to increase at

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Rework Table 7.4 for horizon years 1, 2, 3, and 10, assuming that investors expect the dividend and the stock price to increase at only 6% a year and that each investor requires the same 12% expected return. The company will pay a dividend of $3 at the end of the first year. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Horizon (years) 1 PV (Dividends) PV (Terminal Price) Value per Share 2 3 10 TABLE 7.4 Value of Blue Skies Horizon (years) PV (dividends) + PV (terminal price) = Value per Share 1 $2.68 $72.32 $75 23 5.26 69.74 75 7.75 67.25 75 100 22388 22.87 52.13 75 20 38.76 36.24 75 30 49.81 25.19 75 50 62.83 12.17 75 73.02 1.98 75

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