NTPC expected to offer a dividend of $ 8 per share next year. The historical dividend trend shows that dividends are increasing on average 2% per year. What is the fair value of the stock if investors...

NTPC expected to offer a dividend of $ 8 per share next year. The historical dividend trend shows that dividends are increasing on average 2% per year. What is the fair value of the stock if investors expect a minimum return of 12% per year?