2. AAI Pharmaceuticals, a small drug company, just completed development of a new antibiotic medication. It is expected that AAI will experience extremely high growth over the next three years and will reinvest all of its earnings in expanding the company over this time. Earnings were $1 per share before completion of the development of the vaccine and are expected to grow by 40% per year for the next three years. After this time, its expected growth will drop to 20% and stay there for two years. After the three years of high growth, AAI will payout 50% of their earnings as dividends for two years. Five years from now AAI will pay dividends that are 90% of its earnings from there on forever and the growth rate of earnings will be 5% forever. The required return is 10%. a) Draw the timeline of AAI's earnings and dividends over the next six years. b) According to the dividend discount model, what should the share price of AAI be in 5 years, immediately after paying its dividend? c) According to the dividend discount model, what should the share price of AAI be in 5 years, immediately before paying its dividend? d) According to the dividend discount model, what should be AAI's share price today