Assume that it is now January 1, 2015. Wayne-Martin Electric Inc. (WME) has developed a solar panel capable of generating 200% more electricity than any other solar panel currently on the market. The new project will allow the firm to generate ROE as 15%. To support the firm growth, WME is expected to reinvest 80% of the next 5 years. Other firms will have developed comparable technology at the end of 5 years, and WME's growth rate will slow down and thus the firm only needs to reinvest 40% to support the steady growth rate. Stockholders require a return of 12% on WME's stock. The most recent annual earnings (E0), which was paid yesterday, were $5 per share. 1. Calculate WME's expected dividends for 2015, 2016, 2017, 2018, and 2019. 2. Calculate the value of the stock today, P0. 3. What is the present value of growth opportunity (PVGO)? C. Calculate the expected dividend yield (D1/P0), capital gains yield, and total return (dividend yield plus capital gains yield) expected for 2015. Then calculate these same three yields for 2016. D. Suppose your boss tells you she believes that WME's annual growth rate will be only 12% during the next 5 years and that the firm's long-run growth rate will be only 4%. Without doing any calculations, what general effect would these growth rate changes have on the price of WME's stock