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Mega Industry Ltd is expected to pay a dividend of $3.5 per share at the end of the first year out of earnings of $8.4

Mega Industry Ltd is expected to pay a dividend of $3.5 per share at the end of the first year out of earnings of $8.4 per share. If the required rate of return on the share is 12% and dividends (and earnings) are growing at a current rate of 8% per year, calculate the present value of the growth opportunities for the share?

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