Question 2 (2) Bakar Bhd's most recent annual dividend was RM1.50 per share (D. = RM1.50), and the firm's required return is 9%. Find the market value of Bakar Bhd's shares when: (1) Dividends are expected to grow at 10% annually for 2 years, followed by a 5% constant annual growth rate in year 3 to infinity. (5 marks) Dividends are expected to grow at 10% annually for 2 years, followed by a 0% constant annual growth rate in year 3 to infinity. (5 marks) (iii) Dividends are expected to grow at 10% annually for 2 years, followed by an 8% constant annual growth rate in year 3 to infinity (5 marks) (6) Discuss the FOUR (4) key differences between debt and equity. (8 marks) (C) Explain the cumulative feature of preferred stock. (2 marks) [Total: 25 Marks