Shell company has the following comprehensive income and book values. Cost of equity is 12%; constant...

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Shell company has the following comprehensive income and book values. Cost of equity is 12%; constant growth rate after year 5 is 3%. Using dividend-based valuation model, what is the total present value of equity, using half-year adjustment? Year +1 Year +2 Year +3 Year +4 Year +5 Comp. $7,200 $7,500 $7,700 $8,100 $8,300.0 Income Begin. Book $28,000 $29,000 $30,000 $32,000 $36,000 Value Ending Book $28,600 $29,700 $30,500 $32,500 $35,800 Value Ca. 77,613 b. 83,730 c. 73,421 d. 59,852 Shell company has the following comprehensive income and book values. Cost of equity is 12%; constant growth rate after year 5 is 3%. Using dividend-based valuation model, what is the total present value of equity, using half-year adjustment? Year +1 Year +2 Year +3 Year +4 Year +5 Comp. $7,200 $7,500 $7,700 $8,100 $8,300.0 Income Begin. Book $28,000 $29,000 $30,000 $32,000 $36,000 Value Ending Book $28,600 $29,700 $30,500 $32,500 $35,800 Value Ca. 77,613 b. 83,730 c. 73,421 d. 59,852