13. Covaccine is working on developing vaccines for the past few years. Covaccine has the following dividend history Year Dividend per share Recently paid 210 Bz Last year 190 Bz Two years ago 180 BZ Three years ago 160 Bz The rate of return required in this risk class is 25 per cent. Covaccine has developed the vaccine for COVID-19 and plans to launch it commercially. Assuming that the growth rate in future will be double of its historic growth rate, what is the value of one share? 17. A project requires an immediate outflow of cash of OMR 500,000 in return for the following probable cash flows: State of economy Probability End of Year 1 (OMR) End of Year 2 (OMR) Recession 0.3 150000 100000 Growth 0.5 350000 300000 Boom 0.2 550000 500000 Assume that the state of the economy will be the same in the second year as in the first. The required rate of return is 8 per cent. There is no tax or inflation. a. Calculate the Expected NPV (2 marks) b. Calculate the standard deviation of NPV