NO.PZ2015122801000047
问题如下：
An analyst has estimated the intrinsic value of company A's stock would be $25, what's the required rate of return of a stock if the most recent dividend was $2 and dividends are expected to grow at 3%?
选项：
A.8.24%.
B.11.24%.
C.14.24%.
解释：
B is correct.
$2(1.03) / (r - 0.03) = $25.00, and r=11.24%.
请问为何不用V0=D1/R-G，如何判断2$是D0还是D1
