Using the Yahoo! Finance Website (Links to an external site.), get the current price and five-year dividend history for PPG Industries (NYSE: PPG). To gather this data perform the following steps:

1. Enter the ticker symbol PPG in the search box at the top of the page, and select PPG Industries from the dropdown box. Record the current price from the page.
2. Click on the historical data link. To get a table of previous dividends, select Dividends Only in the Show list, set the Time Period to 5 years prior to today's date, and click the Apply button. click the Download Data link to download a file with this data. You have have the choice of either saving the file or opening it directly in Excel. (NOTE: it is easier to let it open in Excel, but you can also save the .csv file and then choose to open it in Excel.)
3. Get the beta for PPG from its Summary page, and the five-year U.S. Treasury yield (ticker: ^FVX). NOTE: You will need to divide the index value by 100 to get the yield.

After obtaining this data, perform the following tasks in Excel:

1. Calculate the annualized dividend growth rate from the five-year dividend history.
2. Using the stock's current price, dividend and growth rate, calculate the cost of retained earnings for PPG.
3. Assuming that the average market return over the next five years will be 8%, calculate the cost of retained earnings using the CAPM. Use the actual beta and five-year Treasury yield (risk-free rate) in the model.
4. To get your final estimate of the cost of retained earnings, simply average the results from parts b and c.

Submit your Excel workbook with calculations. Submit a 1-2 page summary of your analysis of PPG. Discuss if you feel PPG is a good investment, based on your analysis. Include resources from the CSU Global library (which can be accessed by selecting "Library" in the Canvas navigation panel) or reliable internet sources to find additional appropriate scholarly/academic references beyond the references given in the modules to support your position.

Follow Guide Rubric Instructions in Addition to CT Exercise Instructions.