CAN I PLEASE GET HELP FOR A, B AND C? THANK YOU!

You are an equity analyst valuing Fiera plc and use a two-stage dividend discount model to forecast its equity value. It is a growth company and currently pays no dividends, as it reinvests all its retained earnings back into the business.

You forecast that it will pay an annual dividend for the first time in three years time (t=3) of 5 per share, which you forecast will grow by 7% per year thereafter, up to and including the dividend in ten years time (t = 10), in a high growth stage.

After this, you forecast that dividends will grow at 2% afterwards (forever), in a low growth stage.

The cost of capital for Fiera plc. is 12% per annum.

a) Using the above information, work out what will be the equity value per share of the perpetual stream of dividends in the low growth stage, evaluated in ten years time (at t = 10) (10 marks)

b) Next, work out the present equity value per share of the perpetual stream of dividends in the low growth stage, evaluated at the current time (t = 0) (5 marks)

c) Calculate the equity value per share of the dividends from the high growth stage, evaluated in two years time (t = 2) (5 marks)

d) Calculate the present value per share of the companys equity at the current time (t = 0) (5 marks)

e) Suppose you now estimate that the companys dividends will grow at 3% instead of 2% in the low growth stage. Recalculate the value per share of the companys equity at the current time (t = 0), and comment on the results. (10 marks)