Question 12 1 pts Troy Ltd currently has 8 million shares on issue. Troy is expected to pay no dividends for the next 4 years due to its current expansion strategy. Starting from year 5, Troy is then expected to pay a dividend of $0.10, growing at a rate of 3% per year forever (i.e., $0.10 in year 5, $0.103, and so on). If the required return on equity is 8% p.a. with semi-annual compounding, what is the current total equity value (i.e., market capitalisation) of Troy Ltd? All annual dividends are paid at the end of each year. Any intermediate steps should be rounded to 4 or more decimal places. Round your final answer to 2 decimal places and exclude the dollar sign ($). For example, $10,784.6518 should be input as 10784.65