5. Powdermaker Corporation's current total dividend payments (annual dividend payments plus stock buy-backs) is $13,089 (in millions, and is expected to grow by 5% for the next 5 years. Hence its projected dividends are: Year 5 Year+3 Year*4 Year+1 Year 2 $13,743$14,431 $15,152 $15,910 $16,705 Thereafter they are expected to grow by 3% (ie, the continuing dividend. Powdermaker's beta is currently 0.71, and the current U. S. intermediate treasuries yield is 3.5% while the required risk premiumis 5.0%. (10 points) Calculate the following a The required rate of return on equity using the CAPM b. The sum of the present values of the dividends from Year 1 through Year 5. Use a required equity return of 7% from the attached table. C. The continuing value of the total dividends starting at Year6 d. The total present value of dividends adjusted for mid-year discounting e. If Powdermaker has 6,000 million shares outstanding and is currently selling at $25 per share, is it underpriced, overpriced, or priced correctly