The information for Jefferies is below. Use the Combined Dividends & Earnings Model to find its intrinsic value. Remember that you are forecasting future cash flows (2024, 2025, and 2026). If its current price is $27.96, is it over or under-valued?

***Note that the info below is for 2023; you must forecast the 2024 EPS using the formula EPS₂₄ = EPS₂₃ *(1 + g).

	2023
EPS	$3.90
Beta	1.20
Average DPO	0.287
Growth rate	0.15
Average P/E	8.967

Please use the following table to describe how to find the below:

	2024	2025	2026
Required Return
EPS
Dividend
Expected sale price
Total cash flow
NPV
Closing Price
Overvalued/Undervalued

Answer rating: 100% (QA)

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