Net Income Sp. your answer in the Text-Field given below. 23/11/20 1-86639-20 Suven Life Sciences Ltd, reported earnings per share of Rs. 1.50 in 2023 and paid dividends per share of Rs. 0.42. In 2023, the firm also reported the following: Rs. 30 million Interest Expense Rs. 0.8 million Book Value of Debt Rs. 7.6 million Book Value of Equity Rs. 160 million The inducto 3/11/26-202 023/11/26-2021hb59511-86639-202 23/11/26-2021hb59511-86639-2023/11/26 The firm faced a corporate tax rate of 38.5%. (The market value debt to equity ratio is 5%). The Treasury bond rate is 7% and market premium is 5.50%. The firm expected to maintain these financial fundamentals from 2024 to 2028, after which it was expected to become a stable firm with an earnings growth rate of 6%. The firm's financial characteristics were expected to approach industry averages after 2028. 126 The firm faced a corporate tax rate of 38.5%. (The market value debt to equity ratio is 5%). The Treasury bond rate is 7% and market premium is 5.50%. The firm expected to maintain these financial fundamentals from 2024 to 2028, after which it was expected to become a stable firm with an earnings growth rate of 6%. The firm's financial characteristics were expected to approach industry averages after 2028. The industry averages were as follows: 12.5% Return on Capital Debt/Equity Ratio 25% 2023/11/26-2021h 86 Interest Rate on Debt 7% 19-2023/11/26-2021hh59511-86639-2023/11/26 659611-86639-2023/11/26 Suven Life Sciences Ltd had a beta of 0.85 in 2023 and the unlevered beta was not expected to change over time. a) What is the expected growth rate in earnings, based upon fundamentals, for the high growth period 2024 to 2028? b) What is the expected payout ratio after 2028? [1.00] c) What is the expected beta after 2028? (Note: The unlevered beta is the beta of a company without any debt) d) What is the expected price at the end of 2028? [1:00] e) Calculate yearly cash flows and estimate the value of the stock, using the two-stage dividend discount model. f) How much of this value can be attributed to extraordinary growth and how much to the stable growth? [1.00]