22. The dividend per share of Skyjet Company has grown from 3.5 to 10.5 over past 10 years. The share is currently selling for 75. Calculate Skyjet's capitalization rate. 23. Rama Tours and Travels Limited has current earnings per share of 8.60, which has been growing at 12 per cent. The growth rate is expected to continue in future. Rama has a policy of paying 40 per cent. of its earnings as dividend. If its capitalization rate is 18 per cent, what is the value of the share? Also calculate value of growth opportunities.