The required rate of return for Gamma Ltd equity is 13.5% pa. What is the expected price of Gamma Ltd’s shares at the end of year six (accurate to the nearest cent)? 

Gamma Ltd is not expecting to pay dividends for three years, at the end of year four, a dividend of $2.05 is planned and dividends are expected to be constant forever after that. The required rate of return for Gamma Ltd equity is 13.5% pa. What is the expected price of Gamma Ltd’s shares at the end of year six (accurate to the nearest cent)?