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Raj wish to earn a return of 15 percent on each of two shares, Minat Holding and Kaya Berhad. Minat share is expected to pay

Raj wish to earn a return of 15 percent on each of two shares, Minat Holding and Kaya Berhad. Minat share is expected to pay a dividend of RM0.50, while Kaya share is expected to pay a dividend of RM0.70. The shares are expected to grow at 9 percent. Using the constant growth dividend valuation model, calculate the instrinsic value of each share.

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