E Company plc has seen dividends per share grow at $6\%$ p$.$a$.$ recently but expects the growth rate to decline linearly over the next $6$ years $($period $2H)$ to $3\%$ p$.$a$.$ The beta of the stock is $0\mathrm{.}8,$ the risk$-$free rate is $1\mathrm{.}5\%$ p$.$a$.$ and the market risk premium is $4\%$ p$.$a$.$ The last reported dividend was $0\mathrm{.}50.$ Calculate the intrinsic value of the share.

$(20$ marks$)$