Netsol Techno Corp deals in technology products such as software and web applications and has been able to maintain an outstanding track record in terms of Dividend since 1995. 

The company however recently has not been able to maintain its previous track. Consecutively, the dividend growth that was 15.6% in 2017 reached to 10% in 2019. At the end of year 2020, the dividend growth was expected to decrease by 2.8% but from then onwards it is expected to remain stabilized at 7.2%. If the required rate of return for the company is 10%. 

Calculate the value estimate using the 2016 dividend payment of $4.60.