Company Q's current return on equity (ROC) is 12%. The firm pays out 40 percent or its earnings as cash dividends, (payout ratio = .40). Current book value per snare is $69. Book value per snare will grow as Q reinvests earnings. Assume that the ROE and payout ratio stay constant for the next four years. After that, competition forces ROE down to 10.5% and the payout ratio increases to .70. The cost of capital is 10.5%. a. What are Q's EPS and dividends in years 1, 2, 3, 4, and 5? b. What is Q's stock worth per share? Stock worth per share $