Kelvingrove PLC expects to have earnings per share of $12$ next year. The company is currently paying all its earnings out as dividends. However, starting from year $3,$ they plan to maintain a plowback ratio of $20\%$ indefinitely. They anticipate that this will lead to a dividend growth rate of $5\%.$ Currently, Kelvingrove has a beta of $1\mathrm{.}75.$ The market is expected to yield a return of $12\%,$ and the risk$-$free rate of return is $6\%.$

$1.$ Given the information above, what should be the current share price of Kelvingrove PLC and the present value of its growth opportunities?

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