根据讲义 DDM的公式不是不需要看P吗

问题如下：

An investor expects to purchase shares of common stock today and sell them after two years. The investor has estimated dividends for the next two years, D₁ and D₂, and the selling price of the stock two years from now, P₂. According to the dividend discount model, the intrinsic value of the stock today is the present value of:

选项：

A.

next year’s dividend, D₁.

B.

future expected dividends, D₁ and D₂.

C.

future expected dividends and price—D₁, D₂ and P₂.

解释：

C is correct.

According to the dividend discount model, the intrinsic value of a stock today is the present value of all future dividends. In this case, the intrinsic value is the present value of D₁, D₂, and P₂. Note that P₂ is the present value at Period 2 of all future dividends from Period 3 to infinity.

考点：Multi-stage Model

我们估值是对投资未来所有获得的现金进行折现，如果投资股票两年那么未来获得现金流包括：D1、D2、和两年后把股票卖了所得股票在第二年的价格。