Use the following information on Disney to answer the case questions. Disneys current stock price is $113.00 per share. The average growth rate of the companys dividend has been 16.09% from 2002 through 2017. Disneys return on equity is 19.5% and the company retains approximately 75.7% of its profits while paying out the remaining 24.3% in dividends. The companys stock currently trades at 16.27 times its current year earnings estimate of $6.96 per share. Analysts expect the company to earn $7.36 per share in 2019 and $8.24 in 2020. Disneys peers engaged in movie making trade at 19.6 times their current year earnings estimates while peers in parks and resorts trade at 19.2; media and broadcasting at 17.0 and consumer products at 19.1.

What is Disney stocks intrinsic value using the dividend discount model?