Suppose that instead of plowing money back into lucrative ventures, Aqua America's management is investing at an expected return on equity of 5%, which is below the return of 7.8% that investors could expect to get from comparable securities. a. Find the sustainable growth rate of dividends and earnings in these circum stances. Continue to assume a 40% plowback ratio. negative despite the positive growth rate of earnings and dividends. an attempted takeover? b. Find the new value of its investment opportunities. Explain why this value is c. If you were a corporate raider, would Aqua America be a good candidate for Value of assets in place $15.81 + Present value of growth opportunities (PVGO 10.62 $26.43 - Total value of Aqua America's stock