Nick Saban Recruiting, Inc. paid a 2 dividend last year. It is expected to grow at only 4% this year, due to heavy funding needs. After that, growth...

Nick Saban Recruiting, Inc. paid a 2 dividend last year. It is expected to grow at only 4% this year, due to heavy funding needs. After that, growth will increase to 8% per year forever. If owners need to earn 16%, what is a fair value?