The ordinary shares of Kwekwe Ltd are currently selling at Sh.60 each at the securities exchange. The company's price-earnings ratio is 6 times. Kwekwe Ltd adopts a 40% pay-out ratio as its dividend policy. 3 It is predicted that the company's earnings and dividends will grow at an annual rate of 10% for the first three years, 5% for the next two years and 4% thereafter in perpetuity. The investors' minimum required rate of return is 12%. uited Required: i. ii. The current intrinsic value of the shares. Advise the investors based on the result obtained in (a) (i) above