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TBB company is an oil company. It has just discovered an oil field and therefore
its dividend is expected to enjoy a growth rate of 7% for 20 years. After that, the
growth rate would reduce to zero. The next dividend is $5 and required rate of
return of TBB is 10%. What should be the price of TBB’s stock? (Hint: PV of a
stock with 7% growth rate forever = PV of a stock with 7% growth rate for 20
years + PV of a stock with 7% growth from year 20 to infinity)

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关键词：Discovered therefore Dividend required Discover forever expected required company growth

顶起来，让会的朋友来帮忙

这个应该是金融最初级课程的题目吧，用那个growth model的公式就好了，细心点去画个时间点的图，别算错了就好。

顺便说一下，他给你的hint是为了简化一部分的计算，因为是20年，其实你不用hint硬要按计算机也是按得出答案的，只不过中间有一步你就要按死了。。。。