Assume on the recovery of COVID-19 in BHP Ltd will be growing at a phenomenal rate of 10 per cent. It is also believed that this growth rate will be last for 4 more years and drop to 6 percent per year and remains this rate indefinitely. As well, assume that total unfranked dividend just paid were $22million for 11 million shares.

Required:

Based on non-constant growth, calculate the value of shares today assuming the required rate of return is 13 percent. What would be the total value of equity and price for each share today?