1. Calculate the stock value. XDA Variable Growth - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 | A M Paste BIU - - A - % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Clipboard Font A1 C D E F G H J A fast-growing firm recently paid a dividend of $0.95 per share. The dividend is expected to increase at a 15 percent rate for the next three years. Afterwards, a more stable 10 percent growth rate can be assumed. If an 11 percent discount rate is appropriate for this stock, what is its value today? (Do not round intermediate calculations and round your final answer to 2 decimal places.) 5 6 7 $ 8 9 Latest dividend Non-constant growth rate Length of time nonconstant growth rate lasts for (in years) Eventual constant growth rate Discount rate 0.95 15.00% 3 10.00% 11.00% 10 11 12 13 14 Complete the following analysis. Do not hard code values in your calculations. Assume that the period of nonconstant growth will last no more than 5 years. 15 16 17 Time Period Dividend 1 18 19 20 21 22 23 24 25 26 2 3 4 5 6 Value at time 5 Value today 27 Sheet1 + READY 10% Attempt(s)