3. a) Consider the following three shares: Eagle Plc is expected to provide a dividend of Shs 60/= per share per year forever, starting three years from now. Sparrow Plc is expected to pay a dividend of Shs 28/= per share in two years' time. Thereafter, dividend growth is expected to be 6 % per annum forever. Ostrich Ple is expected to pay a dividend of Shs 30/= per share in one years' time. Thereafter, dividend growth is expected to be 10% per annum for four years and 2% per annum subsequently If the market capitalization rate for each share is 12% per annum, which share is the most valuable? (11 marks)