THIS IS A FIVE PART QUESTION PLEASE ANSWER ALL SECTIONS-THANK YOU

Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to pay its first dividend three years from now. She expects Goodwin to pay a $4.00 dividend at that timeand believes that the dividend will grow by 20.80% for the following two years, and . However, after the fifth year, she expects Goodwins dividend to grow at a constant rate of 4.02% per year.

The required return on Goodwins securities is 13.40%. Complete the following table after determining the horizon value, or the value of Goodwins stock at the end of yearwhen the constant growth rate beginsand the current intrinsic value or value of Goodwin Technologies stock.

1) Horizon Value- A)$45.31 B) $64.73 C) $40.55 D) $44.67

2) Current Intrisic Value- A) $43.29 B) $13.77 C) $8.69 D) $17.77

If investors expect a total return of 14.40%, what will Goodwin's expected dividend and capital gains yield in two years- that is, the year before the firm begins paying dividends

3) Expected dividend yield (DY3) A) 9.02% B) 11.16% C) 9.24% D) 9.24%

4) Expected Capital Gains Yield (CGY3) - A) 13.33% B) 13.44% C) -3.34% D) 7.04%

5). 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's investment opportunities are poor.

Is this statement a possible explanation for why the firm hasn't paid a dividend yet? - Yes or no?

Please help! thank you!