ART has come out with a new and improved product. As a result, the firm forecasts an ROE of 30% and it will maintain a plowback ratio of 0.20 indefinitely. Its earnings this coming year will be $3 per share. Investors expect a 12% rate of return on the stock. 1) How much dividend do you expect ART to pay out this coming year? 2) What is ART's sustainable growth rate? 3) At what price would you expect ART to sell if it is priced fairly? 4) What price do you expect ART shares to sell for in 3 years if it is priced fairly? 5) If ART's management chose to pay out all earnings as dividends, what would be the intrinsic value of its stock? What is the present value of growth opportunities for ART