SECTION B Answer any two questions in this section = 40 marks Question 1 A) Mr Phuduhudu has been monitoring MMN Ltd for the past year for possible investment opportunities in the company. The company had an EPS of $5 as at end of 2022, a dividend payout ratio of 30% and a return on returned earnings of 20%. If the discount rate is 20%, calculate: i) Dividend at year end at year end. (2 marks) ii) Growth rate in dividends. (3 marks) iii) The price of share of MMN Ltd. (3 marks) B) It is often argued that a companys beta is stable and can be estimated by looking at the whole industry as a proxy. Studied have however shown that betas can be influenced by company-specific factors. Discuss in detail the 3 determinants of beta that will influence a firms beta to change over time. (12 marks)