find e

Use the variable-grown model to predict the intresic value of the Rhyhern Company common stock. Assume that dividands will grow at a variable rate for the nent three years (2019, 2020, and 2021). Afler that, the annual rate of growth in divisends is expected to be 6% and stay there for the forseovable future. Starting with the latest (2018) anual dividend of 31.87 per share, Rhyhom's eamings and dividends are estimated to grow by 19% in 2019 , by 15% in 2020 , and by 10% in 2021021 belore dropping bo a 6% rate. Civen the nisk protle of the firm assure a minimam required rate of return of at least 11% a. Caiculate the projected annual dividends over the years 2019, 2020, and 2021 . b. Delemine the present value of dividends durieg the initial variable-growth penod. c. What do vou belleye the price of Rhyhaen stock wil be at the and of the initial growh period (2021) ? d. Having determined the expected future price of Rhyhern stock in part c, discount the price of the stock back to is present value. e. Detormine the tatal intrinale value of Rhyhom stock based on your previous calculations, a. The projected annual dividend for 2019 is $2.23. (Reund to the nearest cont) The projected annual dividend for 2020 is S (Round to the nearest cont.) The projacted annual dividend for 2021 is : (Round to the nearest cent.) b. The present value of dividends during the initial variabe-growh peried is ? (Round to the nearest cent.) c. The price of the stock at the end of the inilial growth period (2021) is $ (Round to the nearest cent) d. The present value of the axpested future prioe is S (Round to the nearest cent) e. The total intrinsic vatue of the stockis 5 (Rhound to the nearest cent.)