Azen, Inc. typically pays 60 percent of its annual earnings as dividendsusing the remainder to finance investments in new capital assets. It has just paid this years dividend of $1.25 per share, reflecting its usual two-percent annual dividend growth, which is expected to continue into the future. Azen has a beta value of 0.250. The expected market return is 10% and the risk free rate is 2%. Currently, Azens stock sells for $65 per share. a. What rate of return do you expect Azen to earn on its reinvested earnings? Explain. b. Based on the companys fundamentals, what is the net present value (if any) of Azens growth opportunities? Explain. c. Some analysts argue that Azens price reflects a bubble. Do you agree or disagree? Explain. d. Based on your analysis in 2a through 2c, what is your prediction for Azens share price one year from now? Explain.