Assume highline company has just paid an annual dividend of $ 0.91$0.91. analysts are predicting an 10.5 %10.5% per year growth rate in earnings over the next five years. after then, highline's earnings are expected to grow at the current industry average of 5.3 %5.3% per year. if highline's equity cost of capital is 9.5 %9.5% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict highline stock should sell?

Renting provides greater flexibility but can lead to higher costs in the long-term.

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Combining the emissions released by fossil fuel burning and  the carbon released via land use change, we get a total of 8.7 gt. since the problem states that the oceans "take up" or sequester  2.4 gt carbon  per year, we subtract that value from 8.7 gt, leaving us with 6.3 gt of carbon. since the problem states that 3.4 gt carbon dioxide emissions end up in the atmosphere, the "missing sink" of carbon takes up 2.9 gt, a value we got by subtracting the 3.4 gt amount recorded from the 6.3 gt carbon left available after the oceans sequester the carbon dioxide. 

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