QUESTION 6 The dividends and earnings of AG stores plc over the last five years have been as follows. The company is financed entirely by equity and there are 1,000,000 shares in issue, each with a market value of K3.35 ex div. a). what is the dividend growth rate over the last four years? Use the formula- Do (1+g)n b). what is the cost of equity? c). what implications does the dividend growth appear to have for earnings retentions? [20 MARKS]