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Divco Berhad earned RM1.00 per share last year and paid a dividend of RM0.60 per share. Next year, you expect Divco to earn RM1.10 per

Divco Berhad earned RM1.00 per share last year and paid a dividend of RM0.60 per share. Next year, you expect Divco to earn RM1.10 per share and continue its payout ratio. You have forecasted that the share will be RM13.20 per share a year from now. If your required rate of return is 12%, how much would you be willing to pay for it now?

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