Question $3(30\%)$

Select a dividend$-$paying company of your choice and gather

five years historical dividends per share data. Using the

Dividend Growth Model, calculate the intrinsic value of the

company's stock. To compute the intrinsic value of the stock

consider the following key components:

Required:

$($a$)$ Determine the most recent dividend per share paid by the

company.

$($b$)$ Estimate the company's sustainable dividend growth rate

based on historical dividend data.

$($c$)$ Calculate the required rate of return that reflects your

expected return as an investor.

$($d$)$ Provide a comprehensive explanation of your results after

computing the intrinsic value of the company's stock.