The stock of Darden Restaurants fell from $120.68 to $39 in just 22 days. Prior to the coronavirus outbreak, Darden was on pace to pay a dividend in 2020 of $3.52 per share. Given that dividend, and assuming that prior to the outbreak investors required a 9% return on Darden stock, how fast would it appear that investors expected dividends to grow in the very long run? The virus outbreak probably decreased the dividend growth rate that investors expected and increased their required return at the same time. Suppose the growth rate fell one percentage point, and the required return rose from 9% to 10%. What would the new stock price be under those assumptions? How does that compare to Darden’s stock price at its low point? What lessons do you learn by comparing the model’s estimate to the actual market price?