QUESTION 3 The market consensus is that Wilfred Corporation has a ROE equal to 13%, and a market-capitalisation rate of 12%. The coming year's earnings per share are expected to be $3.60. The firm's plowback ratio is 50%. a) Find the price at which Wilfred stock should sell using the constant-growth dividend discount model (DDM). [5 marks] b) Calculate the present value of growth opportunities. [10 marks]