Consider the following expression which can be used to estimate the value of a firm's equity: P0=kegE1 Which of the following statements correctly describes the implications of the expression above for firm valuation? Holding all else constant, as the proportion of a firm's earnings retained within the firm increase, the value of firm equity increases Holding all else constant, as the growth rate of firm earnings (and dividends) increases, the value of firm equity declines None of the other statements correctly describe implications of the expression provided for firm valuation Holding all else constant, as the required rate of return from the firm's equity increases, the value of firm equity increases