(d) E-Asset Management has 5800,000,000 under management and is considering purchasing 5000,000 shares in Libria-Tech, a Belgium company. Dividends from the shares will be paid annually. The next dividend is due in 6 months and is expected to be 6 pence per share. The second, third and fourth dividends are expected to be 25 per cent greater than previous dividends, and thereafter dividends are exp ected to grow at a constant rate of 5 per cent per annum in perpetuity. Calculate the present value of the dividends if E-Asset Management's required rate of retum is 14 per cent per annum [5 marks] (d) E-Asset Management has 5800,000,000 under management and is considering purchasing 5000,000 shares in Libria-Tech, a Belgium company. Dividends from the shares will be paid annually. The next dividend is due in 6 months and is expected to be 6 pence per share. The second, third and fourth dividends are expected to be 25 per cent greater than previous dividends, and thereafter dividends are exp ected to grow at a constant rate of 5 per cent per annum in perpetuity. Calculate the present value of the dividends if E-Asset Management's required rate of retum is 14 per cent per annum [5 marks]