In 2022, the rising inflation in the U.S. and the disruption of The Russia-Ukraine war has caused stock market prices in the U.S. to fall while yields on U.S. Treasury bonds rise.

3.1 How will this affect the intrinsic value of the U.S. company ABC?

3.2 With the rising inflation, it is predicted that the ROE of ABC is likely to fall substantially over the next two years. Will the PVGO of ABC's stock increase, decrease or remain unchanged?

3.3 Under such conditions, is it still a good idea to raise the retention ratio to boost expansion in sales and earnings to maintain or even to raise stocks' intrinsic value?

Why?