* Show all your calculation and step

i) MotorLife Company is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $3, and a dividend in year 3 of $4. After year 3, dividends are expected to grow at the rate of 7% per year. The risk-free rate of return is 6%, and the expected return on the market portfolio is 11%. Analysts expect the beta of MotorLife Company's stock is 1.2. What is the intrinsic value of the stock? (5 points)

ii) When MSFT share price reaches $120 per share, MSFT has an expected P/E ratio of about 30 and an estimated required rate of market capitalization of 14%. The expected ROE is 18% and the firm has a plowback ratio of 70%. Is the stock of MSFT fairly priced? Use the intrinsic value of the stock to answer the question. (5 points)

iii) MatureLifes share price is $10.5 per share with an expected EPS of $1.30 an estimated required rate of market capitalization of 10.1%. Assume that the share price is fairly priced according to a constant growth DDM based on the investment opportunities with a plowback ratio of 70%. What is the present value of growth opportunities (PVGO) of the stock? (3 points) Can you advise how to improve the PVGO using one sentence regarding to the reinvestment policy? (2 points)