1. Canadian Solar Inc. (NASDAQ: CSIQ) is a US-listed Canadian company that manufactures solar PV modules and runs large scale solar projects. CSIQ has a market capitalization of $ 1.4 billion. You have been provided with the following information:\ \ CSIQs last reported net income of $ 507 million net income is estimated to grow at 6% per annum for the next five years, after which the company is expected to mature. \ CSIQs current leverage stands at a debt-to-capital ratio of 30%. It is expected to maintain that level during the high-growth period. \ CSIQ is expected to have a stable equity reinvestment rate of 45%. \ The industry average Debt-to-Equity ratio is 45%.\ Estimate CSIQs intrinsic value of equity and provide an investment recommendation accordingly.