6. The forecasts for 2021 earnings per share for the S&P500 portfolio and 10-year bond yields are reported in the following table. Scenario Earning per share 10-year bond yield Optimistic Pessimistic $102 $95 2.0% 2.4% Assume the ratio between the 10-year treasury bond yield and the earnings vield on the S&P500 index equals to 0.8. Use relative valuation approach to forecast the year-end S&P500 index value under the two scenarios