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Use the dividend discount model to value a share of Toyotas stock (ticker symbol: TM) as of December 31, 2020. In your application of this

Use the dividend discount model to value a share of Toyotas stock (ticker symbol: TM) as of December 31, 2020. In your application of this model, use the data provided on the most recent Toyota Value Line report (history of their annual dividend payments, forecasts of future annual dividend payments, past and forecasted growth rates in dividends, and Value Lines estimate of Toyotas equity beta). Given all of the dividend data (historic and forecasted) presented in the Value Line report, explain, in one sentence, the logic you used to estimate the expected future constant growth rate in dividends in perpetuity (g).

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