Zimnat life pays no cash dividends currently and is not expected to for the next 5 years. its latest EPS was $10, all of which was reinvested in the company. the firm's ROE for the next 5 years is 20% per year, and during this time, it is expected to continue reinvest all of its earnings. starting 6 years from now the firm's ROE on new investment is expected to start paying 40% of its earning in cash dividends, which it continue to do forever after. Zimnat's market capitalisation rate is 15%

i. estimate the intrinsic value per share of the firm