QUESTION 6 (3) Investec Ltd's ordinary shares currently pay an annual dividend of R12.50 per share. The required return on this ordinary shares is 13%. With the use of the earnings multiplier, estimate the fair value of these ordinary shares, and whether the share is under- or overvalued, under the following scenario about the dividend: Earnings are expected to grow at the constant annual dividend growth rate of 12%, ad infinitum, while earnings per share will be R25.50. Assume that the share's current market price is R1 300 (round final answer off to a whole number; choose the most correct option). A. R1 250, undervalued. B. R1 250, overvalued. C. R1 449, undervalued. R1 449, overvalued. E. R2 250, undervalued. F. None of the above