Determine the value of Enbridge, Inc. (TSX: ENB) equity using a dividend discount model. Assume that, in one year Enbridge, Inc. will pay a dividend equal to four times its last (Q2 2023) quarterly dividend. Assume the Q2 2023 dividend is $2 and the dividend will then increase by 10.0% for year 2, 5.0% for year 3, 4.0% for year 4, and 2.5% per year indefinitely thereafter. You note that Enbridge, Inc. has 2.0 billion common shares outstanding. You assign a discount rate of 16.0% to Enbridge, Inc. (20 marks)