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8. You are given the following information in respect of ABC Ltd. Earning 1,00,000 Equity capital 5,000 shares of 10 each Cost of capital 10% Expected rates of return (1) 9%, (ii) 10% and (iii)12% Assuming that dividend pay-out ratios are 0%, 50% and 100% respectively, determine the effects of the different dividend policies on the share price of ABC Ltd. for the above mentioned three alternative levels of rate of return using Gordons's model. 10