Question 9 [3 points] Roger Limited is approaching the tail end of its high growth period. The company reported an operating income of $85 million in the most recent year [Y ear 0]. It had no debt on its balance sheet at the end of Year 0. The tax rate is 40%. Roger Ltd. is expected to become a stable growth company in Year 4. Set out below are assumptions for growth rates of operating income, WACC, and ROIC: Year Growth Rate WACC 1 18% 13% 2 15% 12% 3 10% 11% 4 and thereafter 4% 10% ROIC for the next 3 years [Year 1 to Year 3] = 15% RONIC in Year 4 and thereafter = 11% (Le. this applies to new investment only]