Using the dividend discount model, estimate the return that investors currently require for ANZ listed on the Australian stock exchange. You can assume that the firms dividends will continue to grow indefinitely at the same rate as the average dividend growth rate in the previous five years, or you can make alternative assumptions on the future dividend payments, as you see fit.

dividend history

Year	Total dividend
2016	$1.6
2017	$1.6
2018	$1.6
2019	$1.6
2020	$0.6

Current share price $27.87