Assuming Repco Bhd is ripped to be acquired, and you are given the task to evaluate what is the fair value of the common stock based on your assumptions. Repco has RM45 milion worth of debt. cash amounted of RM8 million and preferred stock of RM20 million. Based on the current analysis on the cash flow, the company current year cash flow is at RM5 million and projected to grow for the next two years at 5%, before it grows by 4% the following next two years, in which after that it will assume to grow by 6% forever. Assuming the required rate of return for Repco is at 10 percent, and there are 2 million overall outstanding stocks, what is the expected price your company would offer to purchase a Repco stock? (8 markah/marks)