The dividend for Myrtle ordinary shares is expected to be $1.20 next year. Growth in this dividend is expected to be 8%

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answerhappygod
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The dividend for Myrtle ordinary shares is expected to be $1.20 next year. Growth in this dividend is expected to be 8%

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The dividend for Myrtle ordinary shares is expected to be $1.20
next year. Growth in this dividend is expected to be 8% for the
following two years, then it is expected to drop to 5% and continue
at 5% to ‘infinity’. If the required rate of return on these shares
is 12 %, what is the approximate current value of the firm’s
shares?
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