Question (10 marks) Your investment advisor informs you that Novavax is expected to earn R5 per share next year, R6 per share the following year and that thereafter earnings are expected to grow by 8 percent per year. The dividend payout ratio is 60 percent and the required rate of return on Novavax shares is 15 percent. If the current share price is R40, you expect your adviser to make a (buy/sell/indifferent) recommendation as the intrinsic value is equal to F The terminal value at the end of year 2 is equal to R transaction costs are R2,50 per share, your expected rand return is equal to F if you have 150 shares in your portfolio. Round off all your answers to two decimal places