A company just paid dividends of R2.00 per share. Assume that the dividends will grow by 20% per year during the next two years. After that, growth is expected to level off to a constant growth rate of 10% per year. The required rate of return is 12%. Calculate the shares intrinsic value using the two stage dividend growth model. 1. R126.28 2. R130.71 3. R131.56 4. R158.40