Portman Industries just paid a dividend of $3.60 per share. The company expects the coming year to be very profitable, and its annual dividend is expected to grow by 12.00% over the next year. After the next year, however, Portman’s dividend is expected to grow at a constant rate of 2.40% per year. Assume that market conditions are such that the risk-free rate ( ) is 3.00%, the market risk premium ( ) is 3.60%, and Portman’s beta is 2.00. Given this data—and assuming the market is in equilibrium—complete the following table: Term Value Dividends one year from now ( ) Horizon value (Stock’s value at end of the nonconstant dividend growth period — ) Intrinsic value (Theoretical market price) Given this information, the expected dividend yield for Portman’s stock today is . Portman has 400,000 shares outstanding, and Judy Davis, an investor, holds 6,000 shares at the current price as just computed. Suppose Portman is considering issuing 50,000 new shares at a price of $43.95 per share. If all of the new shares are sold to outside investors, then Judy’s investment in Portman will be diluted by per share, and she will experience a total of .