A share is expected to pay a dividend of $2 in 1 year and $3 in 2 years. Then the dividend will grow at 8% p.a. until the end of year 4. After that, the growth rate would become 3% p.a. forever. The rate of return is 11% p.a. effective. Using the dividend discount model (DDM), calculate the value of the share today. (Round your answer to the nearest cent.) 

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Dividend Year 1D1 2 Dividend Year 2D2 3 Growth rate for ... View the full answer