(Common stock valuation) Wayne, Inc.'s outstanding common stock is currently selling in the market for $28. Dividends of $2.59 per share were paid last year, return on equity is 23 percent, and its retention rate is 27 percent. a. What is the value of the stock to you, given a required rate of return of 17 percent? b. Should you purchase this stock? a. Given a required rate of return of 17 percent, the value of the stock to you is $ (Round to the nearest cent.) b. Should you purchase this stock? (Select from the drop-down menus.) You purchase the stock because your expected value of the stock is less than the current market price, indicating that the stock would be currently in the market