Dividends

$$1,000$

Total Assets $-12/31/05$

$$35,000$

Total Liabilities $-12/31/05$

$$21,225$

Number of shares outstanding

$1,000$

Cost of Equity

$12\%$

Using the dividend discount model, assuming dividends grow at $10\%$ per year for the next two years and at $5\%$ thereafter, what is the value per share of Rivaz Corporation at $12/31/05?$

$$14\mathrm{.}87$

$$16\mathrm{.}42$

$$16\mathrm{.}51$

$$16\mathrm{.}61$