Aditi a recent graduate from MN College wishes to retire forty years from today. She determines that she needs $40,000 per year once she retires, with the first retirement funds withdrawn one year from the day she retires. She will need funds up to 25 years. How much must should she deposit each year in an account, starting one year from today, so that she can have enough funds for retirement? Assume that she can earn 5% p.a. on her investments. (3 marks) BML Corp provides investors a return on equity (ROE) of 15% currently. It pays out 40% of the earnings as cash dividends (as per board policy). Current book value per share is Rs. 80. Analysts expect the ROE and payout ratio to remain constant for the next 4 years. Reinvestment by the firm is the only driver for growth of the firm. After 4 years, analysts expect moderation in ROE to 10% and payouts to 50%. Investors expect a return of 10%. p.a.. What is value of each share of BML Corp? (4 marks)