The next dividend BHP is expected to pay a $3 dividend per share

Computation of Value and Implied price of the share:

Required Rate of Return = Risk free Rate + Beta*(Market Return - Risk free Rate)

Here,

Rsik free Rate = 2.5%

Beta = 0.88

Market Return = 12%

Required Rate of Return = 2.5%+0.88*(12%-2.5%)

= 2.5%+0.88* 9.5%

Required Rate of Return = 10.86%

Value of Share = Expected Dividend/Required Rate of Return = $3/10.86% = $27.62 per share

Implied Price of Share = Expected Dividend/(Required Rate of Return-Growth Rate)

As growth rate is not given in the question, we can't calculate implied price of share.

If we assume 5% growth rate then the answer will be as follows:

Implied Price of Share = $3/(10.86%-5%) = $51.19