请教 Financial Management I 的问题。。

Gevin

The Moomoo Milk Bhd. has just come up with a new lactose free desert product for people who can't eat or drink ordinary dairy products. Management expects the new product to fuel sales growth at 30% for about two years. After that competitors will copy the idea and produce similar products, and growth will return to about 3% which is normal for the dairy industry in the area. Moomoo recently paid an annual dividend of RM2.60, which will grow with the company. The return on stocks like the Moomoo company is typically around 10%.
What is the most you would pay for a share of Moomoo?

请问谁会做这个题目？？急需帮助！ 谢谢！

lowkokjun

D0=RM2.60
g=30%(2 yrs)
g=3%(infinity)
k=10%

D1=2.60(1.30)=3.38  PV=3.38/(1+0.1)=3.07
D2-3.38(1.30)=4.39   PV=4.39/(1+0.1)^2=3.63
                                total PV=3.07+3.63=6.7

P2=4.39(1.03)/(0.1-0.03)=64.60

Share price=64.6+6.7=71.3

lowkokjun

不懂对不对的。

Gevin

不懂对不对的。
lowkokjun 发表于 7-9-2010 06:20 PM

谢谢你的答案。。不对也没关系。。 谢谢！