Assume the? following: the? investor's required rate of return is 15 ?percent, the expected level of earnings at the end of this year ?(E1?) is ?$5?, the retention ratio is 50 ?percent, the return on equity ?(ROE?) is 20 percent? (that is, it can earn 20 percent on reinvested? earnings), and similar shares of stock sell at multiples of 10.000 times earnings per share. ?Questions: a. Determine the expected growth rate for dividends. b. Determine the price earnings ratio ?(P?/E1?). c. What is the stock price using the? P/E ratio valuation? method? d. What is the stock price using the dividend discount? model? e. What would happen to the ?P/E ratio ?(P?/E1?) and stock price if the firm could earn 25 percent on reinvested earnings ?(ROE?)? f. What does this tell you about the relationship between the rate the firm can earn on reinvested earnings and ?P/E? ratios?