The Commonwealth Corporations earnings and dividends have been growing at the rate of 12 percent per annum. This growth rate is expected to continue for 4 years. After that the growth rate would fall to 8 percent for the next four years. Beyond that the growth rateis expected to be 5 percent forever. If the last dividend was Rs 1.50 and the investors required rate of return on the stock of Commonwealth is 14 percent, how much should be the market value per share of Commonwealth Corporations equity stock?