26. A company has net earnings of 25 million (1 crore = 10 million). Its paid-up share capital is 200 million and the par value of share is 10. If the company makes no new investments, its earnings are expected to grow at 2 per cent per year indefinitely. It does have an investment opportunity of investing 10 million that would generate annual net earnings of 2 million (1 million 10 lakh) for next 15 years. The company's opportunity cost of capital is 10 per cent. You are required:

(a) to find the share value if the company does not make the investment;

(b) to calculate the proposed investment's NPV; and

(c) to determine the share value if the investment is undertaken?