A stock just paid a dividend of $5 and this is expected to grow at an annual rate of 1.5% pa. You estimate that the stock's required return is 10% pa. Both the discount rate and growth rate are given as effective annual rates, and dividends are paid annually. Which of the following statements is NOT correct? All answers are rounded to two decimal places. O a. Total return of the stock is equal to the dividend yield plus the capital return. O b. The share price at time t=0 is $59.71 Oc. Total return of the stock is equal to the company's long term cost of equity. O d. The dividend at time t=3 will be $5.15 O e. The long-term capital return of the stock is 1.5% You are provided with the following forecast of a firm's nominal Equity Free Cash Flows (EFCF): Year 1: $7 million Year 2: $8 million Year 3: $9 million From year 3 onwards, the nominal EFCF is expected to grow at the country's nominal GDP growth rate forever. The perpetuity formula can be used to find the terminal value of the EFCF. The nominal required return on equity is 5% pa. The analyst forecasts GDP growth to be 1% pa in real terms or constant prices' from year 3 onwards. Inflation is expected to be 2.5% pa from year 3 onwards. All rates are effective annual rates. What is the firm's market value of equity? O a. $338,300,735.03 O b. $470,757,277.03 O c. $594,647,977.03 O d. $653,375,406.98 O e. $567,364,618.16