Q.4. Qazi enterprises considering cash purchase of the stock of Dewan Furniture. During the year just completed Dewan Furniture paid cash dividend of $3.00 per share. Qazi enterprises earnings and cash dividends data is as follows: Year 1-2 3-5 6-7 8- onwards Dividend Growth Rate 20% 25% 10% 9% Required return for this purchase is 15%. Calculate market price of share using Variable Growth Method