TWO a. Max declared a dividend of Ksh 15 per share yesterday. In the next five years, it expects its dividend to grow at 16%, then it declines linearly to 8% over five years and thereafter, to grow to perpetuity at 8%. If cost of capital is 20%, compute the value of maximum share today. b. Shiffx released its annual report last week. An analyst used the information to evaluate the likely price of shares in 5 years' time using discounted cash flow method. He submitted his reports to senior manager who checked the analysis and confirmed its okay. However, the manager advised shiffx that the projected price five years from now may not be actual price. Discuss possible