b. Assume on the recovery of COVID-19 in Australia G Ltd will be growing at a phenomenal rate of 15 per cent. It is also believed that this growth rate will be last for threemore years and drop to 7 percent per year and remains this rate indefinitely. As well, assume that total unfranked dividend just paid were $33 million for 11 million shares.

Required:

Based on non-constant growth, calculate the value of shares today assuming the required rate of return is 12percent. What would be the total value of equity and price for each share today?