$1$ point

Using a two$-$stage dividend discount model, compute the intrinsic value using the following information about a stock: Current price per share $=23\mathrm{.}30$

Current annual dividend per share $=1\mathrm{.}76$

Annual dividend growth rate for Years $1-4=9\mathrm{.}00\%$

Annual dividend growth rate for Years $5+=4\mathrm{.}00\%$

Required rate of return $=11\mathrm{.}00\%$

$($Enter your answer as a number with two decimal places, like this: $12\mathrm{.}34)$