Saifudin Consulting Services currently does not pay any dividend. Madam Zafirah, an investor, expects Saifudin will begin paying dividend of RM2 per share at the end of year 4. He also expect the dividend to grow at 8% per year for the next two years and then at 10% per year indefinitely. Given if the required rate of return is 14%.

a. What is the dividend at the end of year 5? (answer round up to 2 decimal)

b. What is the PVIF at the end of year 6?

c. What is the value of the dividend at 10% per year indefinitely? (answer round up to 2 decimal)

d. What is the present value of the dividend at 10% per year indefinitely? (answer round up to 2 decimal)

e. How much is Saifudin Consulting Services's share value? (answer round up to 2 decimal)

f. Which dividend valuation model this refers to?