You are running a motor company. Analysts predict that its dividends will grow at $10$ percent per

year for the next five years. After that, as competition increases, dividend growth is expected to

slow to $7$ percent per year and continue at that level forever. You company has just paid a

dividend of $$3$ per share. What is the value of this company today if the interest rate is $5$ percent?

$(4$ marks$)$