2. Bioenergy plc is a pharmaceutical company that is fast growing due to a patent that is expiring in 4 years. On a per share basis, its current earnings and dividends are 2.8 and 1.0 respectively. Return on Equity (ROE) is 22% and its 4-year historical beta is 1.3. We also know that after the extraordinary growth period of the first 4 years due to the patent it holds, Bioenergy will enter a stable phase that is expected to last forever. During that stable phase, its ROE is expected to revert to the current industry average of 15% and its growth to 6%. It is also expected that its beta will converge to the market beta of 1.0. Further, the current risk-free rate is 3% and the equity risk premium for pharmaceutical companies is 7.5%. i. Fill in the missing values in the table below. ii. Value Bioenergy using the two-stage Dividend Discount Model