Who formulated the following model for estimating the market price of equity share 2 marks...........

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Who formulated the following model for estimating the market price of equity share ? (2 marks)

P = D + Ra Rc (E – D)Rc

Where, P = Market price of equity share

D = DPS

E = EPS

E – D = Retained earning per share Ra

= Internal rate of return on investment

Rc = Cost of capital

Modigliani-Miller

Myron-Gordon

James E. Walter

Clarkson and Elliot

James E. Walter

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