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EBM is expected to pay a GH $21.00 dividend next year. The dividend will decline by 10% annually for the following three years. In year

image text in transcribed EBM is expected to pay a GH $21.00 dividend next year. The dividend will decline by 10% annually for the following three years. In year 5, EBM will sell off assets worth GH$100 per share. The year 5 dividend, which includes a distribution of some of the proceeds of the asset sale, is expected to be GH$60. In year 6, the dividend is expected to decrease to GH40 and will be maintained at GH40 for one additional year. The dividend is then expected to grow by 5% annually thereafter. If the required rate of return is 12%, what is the value of one share of EBM

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