question is continued in the other photo. Please answer all question.

benstein Bros. Clothing is expecting to poy an shnual dividend per shore of 51.00 out of annual earnings par share of 54.00 , Currentiy, Rubenstein os;' stock is selling for $34,50 per shere. Achnring to the cornpany's terget capital structure, the firm has sto militen in total invested capital, of which is funded by debt. Assume that the firm's book value of equity equals its markat value. in past years, the firm has earned a return on equity (ROCE) 13th, which is expected to continue this year and into the forsseesble future. a. Based on this information, what long-run growth rate can the firm be expected to maintain? (Hint: g= Retention rate ROE.) Do not round intermediate calculations. Round your answer to two decimal places. b. What is the stock's required retum? Do not round intarmediate calculations. Round your answer to two decimal places. c. If the firm changed its dividend policy and paid an annual dividend of $2.00 per share, financlal analysts would predict that the change in policy will have no effect on the firm's stock price or ROE. Therefore, what must the firm's new expected lang-run growth rate? Do not round intermediate calculations. Round your answer to two decimal placas. If this plan is implemented, what must the firm's required retum be? Oo not round intermediate calculations, Round your answer to twio decimal silaces. d. Suppose instead that the firm has decided to proceed with its originat plan of distursing s1 per share to shareholders, but the firm intends to do so in the form of a ttock dividend rather than a cash dividend. The firm will allot new shores based on the currant stock price of s34. 50 . In other words, for every 83a,50 in dividends due to sharehoiderz, a thare of stock will be istued. How large wia the stock dividend be relative to bie firm's current market capitalizabon? (Aint Remember market copitalization = Fo * number of shares outstanding.) Do not round intermediate calculations. Round your answer to two decimal places. e. If the plan in part d is implemented, how many new shores of stock will be issued? Do not round intermediate calculations. Round your answer to the nearest whole number. shares If the plan in part of is implemented, by how much will the company's earnings per share be diluted? Do not round intermediate calculations. Round your answer to the nearest cent. 5 pershare