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- UID
- 223295
- 帖子
- 246
- 主题
- 96
- 注册时间
- 2011-7-11
- 最后登录
- 2013-8-21
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i think you guys are getting wrong figure here 2 = D3 / (r-g) = 4.71 / (.12 - 0.09) = 196.96. it should be 156.96. here's the solution below
D0 = 3
D1 = 3 * 1.2 = 3.6
D2 = 3.6 * 1.2 = 4.32
D3 = 4.32 * 1.09 = 4.7088
r = 6 + 1.2 ( 11-6) = 6 + 6 = 12%
P2 = D3 / (r-g) = 4.7088 / (.12 - 0.09) = 156.96
Use CF function CF1 = 3.6, CF2 = 4.32 + 156.96 r=12% and that will be 3.214 + 3.4439 + 125.12755 and hence stock value is $131.79
Hope this helps |
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发表于 2011-7-13 15:15
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