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Abshir gathers the following facts and forecasts for DG limited. The forecasted earnings for DG are $4 and $5 for the next 2 years, and

Abshir gathers the following facts and forecasts for DG limited. The forecasted earnings for DG are $4 and $5 for the next 2 years, and after year 2 DGs earnings are expected to grow at a constant rate of 4% per year. DG follows a 20% dividend payout policy. Abshir has estimated that the cost of equity for DG is 9%. What is the share price for DG using the dividend discount model?

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