Assume that you are an analyst who uses the CAPM to evaluate stocks. There is a firm that has ROE of 25%, a beta of 1.12, the expected return on the market is 15%, the risk-free rate is 5%, and the firm has a dividend yield of 6%. At what dividend payout ratio will this firm appear to be undervalued? Anything more than 59.2% None of the answers listed here. Anything less 59.2%