Suppose the current dividend of any manufacturing company is Tk. 12 per share which are expected to grow at 12 percent for the first 3 years; after then it will decline to 10 percent and it continues to another 3 years. Finally, dividend growth rate is expected to be 7.5 percent and will remain stable for the foreseeable future. If the required rate of return on the shares is 9 percent, then estimated the intrinsic value of this stock? What would be your investment decision is that stock has a current trading price of Tk. 85 per share