Suppose that companies A and B are identical in terms of beta and current dividend.

Investors expect company A$\text{'}$s dividends will grow at $5\%$ with probability $0\mathrm{.}5,$ and $7\%$ with probability $0\mathrm{.}5.$

They expect company B$\text{'}$s dividends to grow at $6\%$ with probability $1$

Which company has a higher valuation?