Pipi Storm Corporation has just paid dividends of R2.12 per share. Assume that over the next three years dividends will grow as follows: 25% in year one; 12% in year two; and 10% in year three. After that, growth is expected to level off to a constant growth rate of 7% per year. The required rate of return is 12%. Use the multistage model to calculate the intrinsic value of the share.