Illustration 9 (Rate of Return Method). From the following information, Calculate the value per equity share: $ 2,000, 9% Preference Shares of $100 each 2,00,000 50,000 Equity Shares of $10 each, $ per share paid up 4,00,000 Expected profits per year before tax 2,18,000 Rate of tax 50% Transfer to General Reserve every year 20% of the profit Normal rate of earning 15%