Question 16 The Express Surgery Centre's (ESC's) next dividend payment will be R3 per share. The dividends are anticipated to maintain a 9% growth rate forever. If the company's shares are currently selling for R25 per share, what is the investors' required return? 1. 21% 2.22% 3. 23% 4. 24% Towers Elevator Company has issued a 12% preference share with a par value of R300 each. If investors require an 11% return on investment, what is the current value of these preference shares? 1. R 2,72 2. R 3,27 3. R272,28 4. R327,27