|
- UID
- 223207
- 帖子
- 158
- 主题
- 125
- 注册时间
- 2011-7-11
- 最后登录
- 2013-8-23
|
[求助]请教一体关于Two-stage DDM的问题，谢谢
CFA Level 1 study notes Book4 P226 页练习
Assume that a stock is expected to pay dividends at the end of year1 and year2 of
$1,25 and $1.56, respectively. Dividends are expected to grow at a 5% rate thereafter.
Assume that r is 11%,the value of the stock is closest to which of the following?
我觉得应该是
(1.25/1.11) + (1.56/1.11的平方）+ (1.56*1.05/（0.11-0.05) ) / 1.11的平方
但是答案给出是
(1.25/1.11) + (1.56/（0.11-0.05) ) / 1.11
请问哪个是对的啊？ |
|
发表于 2013-8-18 11:56
| 