Recall the first case analysis using the "Back-of-envelope" method (also known as Approximate Compound Yield method) to determine the long-term expected returns. Assume the holding period of 10 years. Assume that the shares outstanding is fixed for the holding period. The current earnings per share (EPS) is $2; and the growth rate of earnings is expected to 10%; the average dividend yield is expected to 3.5%; the P/E ratio at the end of year 10 is expected to be 20. Given the current price of $65. What would be the expected average annualized 10-year holding period return? Less than 9% higher than 13% but less than 15% higher than 11% but less than 13% higher than 9% but less than 11% higher than 15% Recall the first case analysis using the "Back-of-envelope" method (also known as Approximate Compound Yield method) to determine the long-term expected returns. Assume the holding period of 10 years. Assume that the shares outstanding is fixed for the holding period. The current earnings per share (EPS) is $2; and the growth rate of earnings is expected to 10%; the average dividend yield is expected to 3.5%; the P/E ratio at the end of year 10 is expected to be 20. Given the current price of $65. What would be the expected average annualized 10-year holding period return? Less than 9% higher than 13% but less than 15% higher than 11% but less than 13% higher than 9% but less than 11% higher than 15%