Question: ABC Corporation has been experiencing rapid growth in recent years As an analyst you are attempting to value ABC shares utilizing the dividend discount model. You expect the firm's first ever dividend of $3.50 per share to be paid 8 years from today (end of year 8). Your growth forecast in dividends for ABC includes growl of 25% in the following three years before declining to a perpetual growth rate of 4% after that. You have estimated the required rate of return for ABC to be 12%.

Using the three-stage dividend discount model, calculate the intrinsic share value of ABC. Show your work.