b) Kenanga Company has an issue of RM1,000 par value bonds with a 14 percent annual coupon interest rate. The issue has ten years remaining to the maturity date. Bonds of similar risk are currently selling to yield a 12 percent rate of return. Determine the current value of each Kenanga bond? (4 marks) c) Seri Putra Incorporation is considering a cash purchase of Sinar Wood's stock. During the year just completed, Sinar paid cash dividends of RM2.50 per share (DO = 2.50). Sinar's dividends are expected to grow at 3% per year for the next 5 years, after which the dividend growth rate will increase to 6 % per year forever. What is the maximum price per share that Seri Putra Incorporation should pay for Sinar if it has a required return of 12% on investments with risk characteristics similar to those of Sinar