Brendan Fox Cyber Security Co. earned EPS of $5 in 2019 and projected to have a dividend payout ratio of 60%. Investors were bullish on company stock and were forecasting that earnings could grow over the next 2 years (2020& 2021) by 6.0% a year. Beginning year 2022, its sustainable rate of growth is assumed to be 4% a year. of the company is 1.2. T-bill rate =3.4% and Expected market return is 12.4%. Year 2020 should be considered as year 1