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B. Dr. Vichard is interested in buying ordinary shares of Open Book Ltd. Based on information available to him; he estimates that the company will

B. Dr. Vichard is interested in buying ordinary shares of Open Book Ltd. Based on information available to him; he estimates that the company will pay the following  dividends in the next five years. He also estimates that at the end of fifth year, he will be able to sell the shares at Rs. 40. What is the maximum price he would pay today if his rate of return for this kind of risk is 12%?

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