Acceleration Ltd has $3$ million ordinary shares in issue. Each ordinary share is

reasonably valued at R$1120$ and each share will be receiving a dividend of R$55\mathrm{.}40$

within the next few days. Acceleration Ltds business and resulting net profit after

taxation are expected to grow annually by $8\%.$ Acceleration Ltd intends to maintain

the annual dividend declared to shareholders in the same ratio to the net profit after

taxation, as it is currently. Refer to CASE $3$: ACCELERATION LTD$.$ Calculate the rate required by each

ordinary shareholder of Acceleration Ltd