Greetings, Please support to answer the below question. ================================ Your boss, Sally Maloney, treas

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Greetings,
Please support to answer the below question.
================================
Your boss, Sally Maloney, treasurer of Fred Clark Enterprises
(FCE), asked you to help her estimate the intrinsic value of the
company's stock. FCE just paid a dividend of $1.00, and the stock
now sells for $17.50 per share. Sally asked a number of security
analysts what they believe FCE's future dividends will be, based on
their analysis of the company. The consensus is that the dividend
will be increased by 10% during Years 1 to 3, and it will be
increased at a rate of 5% per year in Year 4 and thereafter. Sally
asked you to use that information to estimate the required rate of
return on the stock, rs, and she provided you with the
following template for use in the analysis.
Sally told you that the growth rates in the template were just
put in as a trial, and that you must replace them with the
analysts' forecasted rates to get the correct forecasted dividends
and then the estimated HV. She also notes that the estimated value
for rs, at the top of the template, is also just a
guess, and you must replace it with a value that will cause the
Calculated Price shown at the bottom to equal the Actual Market
Price. She suggests that, after you have put in the correct
dividends, you can manually calculate the price, using a series of
guesses as to the Estimated rs. The value of
rs that causes the calculated price to equal the
actual price is the correct one. She notes, though, that this
trial-and-error process is quite tedious, and that the correct
rs could be found much faster with a simple Excel
model, especially if you use Goal Seek. What is the value of
rs?