b. The following provides M\&S plc's earnings per share (EPS) and dividends per share (DPS) for the years 20222025. Suppose these numbers were given to you at the end of 2021 , as forecasts, when the book value per share (BPS) was 5.50. Required: 0.11 Use a cost of capital of 11 percent for calculations below: Require Rate Return. i. Using the residual earnings valuation model, value the firm at the end of 2021 , would you call this a Case 1,2 or 3 valuation? (15 marks) ii. Based on your analysis, provide a recommendation to a potential investor if the share price of the company is traded at 10 per share. (5 marks) iii. Based on your analysis, forecast the target price at the end of 2025 . (5 marks) (Total =50 marks)