A large telecom corporation A paid dividend per share of 0./2 euro on earnings per share 1.25 euro in 2016. The EPS had grown at 13% over the period of 5 years but the growth rate is expected to decline linearly over the next 4 years to 5%, while the payout ratio remains unchanged. The required return on equity of A is 9%. The stock is trading at 33.40 euro at the time of analysis. Required: a) Discuss the reasons for growth decline b) Determine the intrinsic value of the stock and comment on your results