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d) You are trying to value WES shares today (end of 2022). Assume the current price of WES shares are $44.13. Assume that the total

d) You are trying to value WES shares today (end of 2022). Assume the current price of WES shares are $44.13. Assume that the total dividend paid by WES in 2021 was a lump sum. You also estimate that for the next two years dividends will grow respectively at 20% and 15% per year. After this (starting in time 3) you estimate dividends will grow at a constant rate of 1.5% forever. Assume that today the Australian 10 year government bond has a yield of 3.95%, the market risk premium is 6% and the beta of WES is 0.95. Based on this price would you purchase WES shares? Why or why not?

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