8. MIB, the Maldives Islamic Bank, issued a dividend of MVR 32 last year. In the first two years, MIB expects the dividend to grow by 15% and 23%, respectively. Dividends will continue to rise at a 2% annual rate after that. Assuming a 13 percent return on investment, what would the asset's price be? (6 marks)

9. Kandoodhoo Chillie is a well-known chillie in the Maldives, particularly during Ramadan. due to the irregular nature of its supply, the price of Kandoodhoo Chillie is unexpected, and hence profit is also unpredictable. Kandoodhoo council expected profit for Kandoodhoo Chillie for the first five years are MVR 150,000, MVR 265,000, MVR 342,000, MVR 478,000, and MVR 603,000, respectively. Additionally, the Kandoodhoo council expects that profit will remain constant at MVR 750,000 for the next 30 years following that. Assume a ten percent interest rate for the first five years and a twelve percent rate thereafter. The president of the Kandoodhoo council approaches you and requests that you calculate the current intrinsic value of

Kandoodhoo Chili using the information above. (7 marks)