23. Rama Tours and Travels Limited has current earnings per share of *8.60, which has been growing...

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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.

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