You are given the 10-year history of Intels quarterly dividends.

Compute Intels cost of equity rE using the Gordon dividend model.

Compare the cost of equity computed on the basis of 10 years of growth with that computed on the last 5 years of growth.

S0, current stock price

24.23

Date	Dividend per share
5/May/03	0.020
5/Aug/03	0.020
5/Nov/03	0.020
4/Feb/04	0.040
5/May/04	0.040
4/Aug/04	0.040
3/Nov/04	0.040
3/Feb/05	0.080
4/May/05	0.080
3/Aug/05	0.080
3/Nov/05	0.080
3/Feb/06	0.100
3/May/06	0.100
3/Aug/06	0.100
3/Nov/06	0.100
5/Feb/07	0.113
3/May/07	0.113
3/Aug/07	0.113
5/Nov/07	0.113
5/Feb/08	0.128
5/May/08	0.140
5/Aug/08	0.140
5/Nov/08	0.140
4/Feb/09	0.140
5/May/09	0.140
5/Aug/09	0.140
4/Nov/09	0.140
3/Feb/10	0.158
5/May/10	0.158
4/Aug/10	0.158
3/Nov/10	0.158
3/Feb/11	0.181
4/May/11	0.181
3/Aug/11	0.210
3/Nov/11	0.210
3/Feb/12	0.210
3/May/12	0.210
3/Aug/12	0.225
5/Nov/12	0.225
5/Feb/13	0.225
3/May/13	0.225
	41