Intel Corp. (INTC) trades for $60 a share, has current earnings of $5, a plow-back ratio of 72%, and a beta of 1.2. The risk-free rate is 1% and the market risk premium is 5%. a. What is Intel's required rate of return? b. Using the Gordon Growth Model, what growth rate is implied by the current market valuation of Intel? c. Your own analysis of the microchip industry shows that Intel's actual growth rate will be 5%. Based on this analysis, you buy Intel today. Tomorrow, news comes out and the rest of the market comes to agree with your predicted growth rate, which becomes reflected in Intel's stock price. What was your holding period return (HPR) between today and tomorrow? (No need to annualize, just report the HPR.)