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Red Shoes’s recent financial statements reported a book value of $11.00 per share; its required rate of return is 9%. Analyst Tony Giancola, CFA, wants to calculate the company’s intrinsic value using a multistage residual income with a high-growth RI for the next 5 years. Giancola creates the following estimates:
Which of the following is closest to the current intrinsic value of Red Shoes? A. $20.90. B. $18.45. C. $9.90. |