SpaceTech Ltd. is expected to pay a per-share dividend next year of $30. The market's consensus is that the firm's dividend growth rate of 2% per year (which has been going on for many years) will be maintained in the foreseeable future. SpaceTech's cost of equity is 10% per year. i) What is the price of a share of SpaceTech? (3 marks) SpaceTech has the expected dividend growth of 2% because its return on equity is 8% and management retains 25% of the earnings. ii) What is the earnings per share of SpaceTech next year? (2 marks) iii) What is the present value of growth opportunities per share of SpaceTech? (3 marks) Suppose SpaceTech is about to announce that it will increase its retention ratio to 50%, effective immediately. iv) What will be the new value of the stock after the change in policy