HIJ Company has made 10 million dollars profit last year. The company has decided annually to give out 30% (1-b) of the profit as dividends (D1) to its shareholders, and the remaining 70% (b) of the profit will be kept in the company for other investments. The historical ROE ratio of the company is 10%, and the ROE ratio is estimated to remain the same in the future. The current stock price (P0) is 30 with shares outstanding of 2 million.

(a) What is the growth rate (g) of the Company?

(b) Calculate the dividend for each share (D1).

(c) Calculate required return (r) of the DFG Company stock.

(d) If the discount rate is 5%, what is the Present Value of Growth Opportunities (PVGO)?