A firm in steady$-$state earned $$5$ per share this year and paid a $$4$

dividend. The firm is currently selling for $$55.$ Assume an ROE of $8\%$

and a constant discount rate of $10\%.$

$1$ Calculate the current P$/$E ratio.

$2$ Calculate the justified current P$/$E ratio.

$3$ Calculate the intrinsic value of the firm.

$4$ Calculate the forward P$/$E ratio.

$5$ Calculate the justified forward P$/$E ratio.