Price level

Expected D
Growth in d
Rf
Implied ri

1000
4%
6%
5%
5%

1
42.4

2
3
4
5
6
44.944 47.64064 50.49908 53.52902 56.74076

Expected D
Terminal value
Disc rate
10%
10%
10%
10%
10%
10%
PV
38.46154 36.98225 35.55985 34.19217 32.87708 31.61258
999.9998

7
8
9
10
60.14521 63.75392 67.57916 71.63391
1790.847
10%
10%
10%
10%
30.39671 29.22761 28.10347 702.5866