1. You are an investment analyst. Your client asked you to assess the viability of the investment in ABC Company. The client expects to hold the investment for three years and sell it at the end of the holding period (end of the third year). You have forecasted that ABC Company will pay dividends of RM2.50 in the first year, RM3 in the second year and RM3.25 in the third year. You expect that at the end of the third year, the selling price of the company's stock will be RM125 per share. The estimated cost of capital is 5%. The current stock price is RM110 per share. Required: Determine the intrinsic value of the company using the multiple-period dividend discount model