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CX Enterprises as the lowing expected be more than 132 and so on Cs $19 in one year $1.25iny a and in the years. Aner at cos
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(9) 1.25 1.32 Present value of Dividends from Year 1-3 Dividend (5) Dridend Discounted @ 11:56%. 1.09 1.09 0.9776 (tolis) 1.2calculated is at the end of 3rd Year L (start of stable phose), so, it must be discounted back 3 years : . PV = 17.3 104 (1.1

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