The following information regarding the dividends of Naspers Ltds share is forecasted: / Die volgende inligting rakende dividende van Naspers Bpk se aandeel word vooruitgeskat:

• Assume Naspers Ltds most recent dividend (Do) was R7.50 per share. / Aanvaar Naspers Bpk se mees onlangse dividend (Do) was R7.50 per aandeel.
• Dividends are expected to grow by 28.55% annually over the next three years. / Dividende word verwag om te groei met 28.55% per jaar oor die volgende drie jaar.
• By the end of the third year, the growth rate is expected to decline to an 6.88% annual growth rate for two years. / Aan die einde van die derde jaar word daar verwag dat die groeikoers sal afneem na jaarlikse groeikoers van 6.88% vir twee jaar.
• At the end of year five, it is expected that the growth rate will remain constant at 4.52% ad infinitum. / Aan die einde van jaar vyf word daar verwag dat die groeikoers konstant teen 4.52% sal groei, ad infinitum.
• The firms cost of capital is 10.50%. / Die firma se koste van kapitaal is 10.50%.
• The current market price of the share is R230.55. / Die huidige markprys van die aandeel is R230.55.

Calculate the fair (intrinsic) value of the share and determine whether the share is over- or undervalued