Most recently, Seone Ltd paid out $3 per share as dividend. They are expecting that the dividends increase by 10% after 1 year, then 13% in the second year. After that, dividend will increase at a rate of 5% per year indefinitely. Required rate of return is 15%

Requirements

Someone has offered to buy the company (all the shares) for a price of $36 per share. Should the board accept this offer or not? Clearly justify your reasons.