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a) United Ltd. Intends to pay an ordinary dividend of Shs. 10 per share for the year ended 31 March 2023, 2024, 2025. The management

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a) United Ltd. Intends to pay an ordinary dividend of Shs. 10 per share for the year ended 31 March 2023, 2024, 2025. The management of the company projects that the market price of the shares will be as follows: Year ending 31 December Projected market price per share 2023 25 2024 30 2025 27 Required: Determine investors' required rate of return for the year 2023, 2024 and 2025

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