$3\mathrm{.}5.$Inflation Outlook

$3\mathrm{.}5\mathrm{.}1.$ South Africa: The South African Reserve Bank projects that the headline consumer

price inflation over the medium term is $4\mathrm{.}5\%.$

$3\mathrm{.}5\mathrm{.}2.$ United States: The Federal Reserve Bank of New York stated that medium$-$term

inflation expectations are $2\mathrm{.}8\%.$

$3\mathrm{.}6.$ Exchange Rate Forecast: ZAR$/$USD

Analysts at LongForecast predict that the average exchange rate for $2024$ will be:

$18$ ZAR$/$USD$.$

$3\mathrm{.}7.$ Taxation Rates

$3\mathrm{.}8.$Market$-$Related Data

$3\mathrm{.}9.$ Bond Yields $($US and SOUTH AFRICA$)$

Source: Bloomberg $(2024)$; World Government Bonds $(2024).$

calculate the required rate of return, discount rate, and future exchange rates