Champion Inc., has expected earnings of $3 per share for next year. The firm's ROE is 20%, and its earnings retention ratio is 70%. The risk free rate of return is 5%, the expected return of the market is 10% and the beta of Champion Inc. is 2. 1- Explain with your own words the importance of the Capital Asset Pricing Model CAPM (2 Marks) 2- One of the assumptions of the CAPM is the market efficiency. From your knowledge, explain the market efficiency and the advantages of making investment on efficient market (3 Marks) 3- Compute the fair price of Champion Inc. in case of no growth (1 Mark) 4- Compute the fair price of Champion Inc. in case of growth (2 Marks) 5- Compute the impact of the growth opportunities on the price of Champion Inc. (1 Marks)