问一道题：NO.PZ2018062002000165

问题如下：

Peter, an US based investor is considering buying a common stock with a dividend of $2.5 a year. The dividend is expected to grow at an annual rate of 5%. If investors' required rate of return is 8%,the intrinsic value of the stock the most close to:

选项：

$53.0

$58.6

$87.5

解释：

C is correct.

Based on Gordon's growth model,V₀ = D₁/(r – g). In this case, D₁ =$2.5 × 1.05 = $2.625, so V₀ = $2.625/(0.08 – 0.05) = $87.5