Kawaida Ltd is currently engaged in an expansion programme. The companys management expects to resume the payment of dividends at the end of 3 years with a dividend of Sh 1 per share. The dividends will grow at annual rate of 50% in years 4 and 5. Thereafter, the dividends will grow at a constant rate of 8% indefinitely. The required rate of return on the companys share is 15%.

Required: The current value of the companys share (6 Marks)