A company has a steady track record in terms of both return on equity and growth. At year- end 2021, the company had a book value of 30 euro per share. For the foreseeable future, the company is expected to achieve an ROE of 15% (annually, on trailing book value) and to pay out (annually) one- third of its earnings in dividends. The required rate of return is 12%. Forecast the companys residual income for the years 2022, 2023, 2024 and 2025. Show all the calculations.