Question: A high technology stock is expected to pay no dividends during the first five years. It is expected to pay a dividend of shs50 at

A high technology stock is expected to pay no dividends during the first five years. It is expected to pay a dividend of shs50 at the end of year 6. Dividends are expected to grow at 14% p.a. after year 6. The required rate of return is 16% p.a. Estimate the intrinsic value of the shares

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