H Berhad wishes to determine the value of C Berhad, a firm that it is considering acquiring for cash. H Berhad wishes to determine the applicable discount rate to use as an input to the constant growth valuation model. C Berhad's stock is not publicly traded. After studying the required returns of firms similar to C Berhad that are publicly traded, H Berhad believes that an appropriate risk premium on C Berhad's stock is about 5%. The risk-free rate is currently 9%. C Berhad's dividend per share for each of the past 6 years is shown in the following table: Year Dividend per share (RM) 3.44 2021 2020 3.28 2019 3.15 2018 2.90 2017 2.75 2016 2.45 (1) Given that C Berhad is expected to pay a dividend of RM3.68 next year, determine the maximum cash price that H Berhad should pay for each share of C Berhad. 9 marks) Describe the effect on the resulting value of C Berhad: (11) A. A decrease in its dividend growth rate of 2% from that exhibited over the 2016-2021 period. (3 marks) B. A decrease in its risk premium to 4%