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9. Stocks that don't pay dividends yet Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecests that Goodwin is likely to pay its first dividend three years from now. She expects Goodwin to pay a $3.00000 dividend at that time (D=33.00000) and believes that. the dividend will grow by 15.6000096 for the folid ing two years (Da. and Ds). However, after the fifth year, she expects Goodwin's dividend to grow at a constant rate of 3.7900096 per year: Goodwin's required retum is 12,60000%. Fill in the following chart to determine Goodwin's horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your calculationt, do not round your intermediate calculations, but round ali final " answers to two decimal places. Assuming that the markets are in equilibrium, Goodwin's current expected dividend yleid is and Goodwin's capiral gains yield is Goodwin has been very successtul, 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 this statement a possible explanation for why the firm hasn't paid a dividend yet? No Yes