Question: Pick Pay Ltd is expected to pay next year a dividend of R 11.25 per share. Dividends grow at a constant annual rate of 10.95%

Pick Pay Ltd is expected to pay next year a dividend of R 11.25 per share. Dividends grow at a constant annual rate of 10.95% to infinity and the investors required rate of return is 14.00% on ordinary shares. The intrinsic value of the share is

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