NO.PZ2015122801000049
问题如下：
An analyst has estimated the intrinsic value of a stock would be $30. Calculate the constant growth rate if the most recent dividend was $1 and investors’ required return was 10%.
选项：
A.2.67%.
B.3.08%.
C.6.45%.
解释：
C is correct.
$1(1+g) / (0.1 - g) = $30 and g=6.45%.
C是正确的。
本题考察的是GGM的公式应用。
V0 = D0 * （1 + g） / (r – g)
30 = 1 * (1 + g )/(0.1 – g)
可得g = 6.45%
为什么这儿不能用g=required rate-（dividend/price）计算呢
