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[3 Marks] Dividends for Topaz Ltd are expected to be 50.75 next year. The company retains 25% of its earnings each year which are reinvested

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[3 Marks] Dividends for Topaz Ltd are expected to be 50.75 next year. The company retains 25% of its earnings each year which are reinvested to earn a rate of return of 11%p.a. Assuming the required rate of return on these shares is 10%, (a) Calculate the expected growth rate. (b) Calculate the value of Topaz shares

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