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At the end of 2018, the shares of Catal Ltd, a farming company, traded at $20.50 each. In its 2018 annual report, Catal had reported book value of equity of $4,500 million with 2,300 million shares outstanding. You will use analysts forecasts as your expectations for future earnings. The forecasts for earnings-per-share are $1.50 for fiscal year 2019 and $1.65 for 2020. Catal pays no dividend.
Required:
Question 1: Estimate the per-share value of Catal Ltd at the beginning of 2019 using the residual earnings model based on the analysts' forecasts, with an additional forecast that residual earnings will grow at the anticipated GDP growth rate of 2 percent per year after 2020. You expect a required return of 9 percent.
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Amy fell on the ice and injured her hip this winter. As a result she paid $3,000 for a visit to the hospital emergency room and $750 for follow-up visits with her doctor. While she recuperated, Amy paid $500 for prescription medicine and $600 to a th..
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