The book value of equity of a company in 2020 is $1,000 million. This company's ROE is 20% and the payout ratio is 40%. Both are expected to remain constant in the future.
i) What are the net earnings of this company in 2021?

ii) If the company has 100 million shares, what is the dividend per share that this company distributes in 2021?
iii) What is the book value of equity of this company at the end of 2021?
iv) If this company's price per share is 3 times its book value, what is the this company's (market) price per share?

v) If the payout and ROE remain constant, what will be the net earnings and the book value of equity of the company in 2022?