(Related to Checkpoint 10.2) (Relative valuation of common stock) Using the PIE ratio approach to valuation, calculate the value of a sharn of stock under the following conditions: - the investor's required rate of return is 16 percent, - the expected level of earnings at the end of this year (E1) is $57. - the firm follows a policy of retaining 60 percont of is earnings, - the return on equity (ROE) is 13 percent, and - simitar shares of stock soll at maltiples of 4.879 times earnings por share. Now show that you got the same answer using the disoounted dividend model. a. The stock price using the P.E ratio valuation mothor is 3 (Round to the nesest cont.)