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7. Storks that don't pay dividends yet Goodiwin Technologies, a relatively young company, has been wildly successul but has yet to pay a dividend. An analyst forecasts that Goodwin a likely to pay its fint dividend three years from riow. She expects Goodwin to pay a $2.25000 dividend at that time (D) w $2.25000) and believes that the dividend will grow by 11.70000\%, for the following two years (Du and D3). However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.60000% per yeac. Goodwin's required retum is 12.00000%. Fill in the following chart to determine Goodwin's horizon value at the horizon date fwhen constant growth begirs) and the current intrinsic value. To increase the accuracy of your calculations, do not round your intermediate calculations, but round all final answers to two decimal places. If investors expect a total return of 13.00%, what will be Goodwin's expected dividend and capital gaints yield in two years-that is, the year before the firm begins paying dividends? Again, remember to carry out the dividend values to four decimal places, (Hint: You are at year 2 , and the first dividend is expected to be paid at the end of the year. Find DY a and CGY3.) Goodwin has been very successful, but it hasn't paid a dividend yet. It circulates a report to its key investors containing the following statement: Goodwin has yet to record a profit (positive net income). Is thas statement a possible explonation for why the firm hasn't paid a dividend yet? No Yes