Question 2 (a) Beautiful Langkawi Berhad jusu paid dividends or RM2 per share. Assume that over the next three years dividends will grow as follows, 5% next year, 15% in year two, and 25% in year 3. After that growth is expected to grow to a constant growth rate of 10% per year forever. The required rate of return is 15%. Calculate the intrinsic value using the multistage dividend discount model (6 marks) (b) A company's dividend last year was RM5.00. Dividends are expected to grow indefinitely at 7% and the required rate of return for the stock is 13%. What is the value of the stock today? (4 marks)