Newmoon inc, is going to finance $50\%$ of the new investment project with retained earnings and the rest with a new stock issue. In the current year, dividends distributed per face value is $40\%.$ The company distributes $45\%$ of its profits and uses the rest in reinvestment. The aveage profitability of assets is $24\%,$ flotation cost per share is equal to $0,50$t Compute:

a$)$the intrinsic value of a share of this company according to the dividend discount model