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CU. Assume an all equity firm has been growing at a 20 percent annual rate and is expected tc i do so for 3 more years. At that time, growth is expected to slow to a uspe.cent rate. The firm maintains a 40 percent payout ratio, and last year's addition to retained earnings (net of dividends) were $1.5 million. If the market is in equilibrium, what is the market value of the firm's common equity (1 million shares outstanding, R=13%)? a) $17.4 million b) $19.1 million c) $21.9 million d) $28.7 million e) $47.8 million The last dividend just paid by Quantum Inc. was $2.00. Quantum's growth rate is expected to be a constant 15 percent for 3 years, after which dividends are expected to grow at a rate of 10 percent forever. Quantum's required rate of return on equity (ks) is 14 percent. What is the current price of Quantum's common stock? a) $62.57 b) $57.13 c) $54.88 d) $53.04 e) $48.14