Question 1 (20 marks) FNB Namibia Holdings Ltd is a financial services company and a holding company of the FNB Namibia group of companies. It is listed on the Namibian Stock Exchange (NSX) and it declared dividends of N$4.80 per share today that it intends to pay out on 1 November 2016. The investors expect that these dividends would continue to grow at a constant rate of 4% per year forever and the share's required return is 17% per annum. Required: 1.1 How much dividends is expected to be paid by FNB Namibia Holdings Ltd on 1 November 2021? (5) 5 1.2 Compute the value of FNB Namibia Holdings Ltd today if the annual dividend growth rate remains at 4% forever. (5) 1.3 Determine the value of FNB Namibia Holdings Ltd today if the constant annual dividend growth rate actually doubles. (5) 1.4 Calculate the value of FNB Namibia Holdings Ltd today if the annual dividend growth rate from 2016 to 2021 is actually 4% and it increases to 8% from 2022 and beyond (forever)