The beta for Microsoft Inc. ordinary shares is 1.25. Microsoft is based in the USA. Suppose year government bonds in that country is 3% and you expect listed shares in the USA to co a return of 10% including dividends. Today the price of Microsoft's ordinary shares is $200 21.7 million issued ordinary shares. You expect dividends on ordinary shares to increase a of 2.5% per annum nominal and just last week you saw that Microsoft paid a dividend of $4 a civicand ance s wear only