Equities are valued as if you plan to hold them forever (perpetuity) and therefore priced such that you receive all of the future dividends from that point onward. This means that all the future dividends are present valued.
The R113 in 10 years time is the price of all the future dividends from that point onward. Therefore, the R113 discounted to time 0 together with the present value of the dividends up to time 10 will give you the total present value of the share.
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