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银色羽毛 · 2025年06月13日

不明白这一题的解题思路

NO.PZ2023032701000019

问题如下:

Tanner expects short-term rapid earnings growth of 20% in 2014 for GNSK, with the rate of growth linearly diminishing over the next five years to match industry conditions thereafter. He assumes that starting in Year 6, GNSK’s long-term dividend growth rate will be equal to the current level of implied growth rate for the industry. Given these assumptions and the data in Exhibit 1.

Using Bradley’s assumptions regarding GNSK and the data from Exhibit 1, GNSK’s long-term dividend growth rate is closest to:

选项:

A.

8.0%

B.

7.0%

C.

7.3%

解释:

0.037 = (0.11 – g)/(1 + g)

0.037(1 + g) + g = 0.11

0.037 + 0.037g + g = 0.11

1.037g = 0.11 – 0.037

g = 0.073 / 1.037 = 0.0704 =7.0%

解析用的是哪一个公式啊?为什么会带入trailing dividend?

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