The forecasted earnings and dividends for Growth-Tech are as follows: Year: Book equity Earnings per share (EPS) Return on equity (ROE) Payout ratio Dividends per share (DIV) Growth rate of dividends (%) 1 18.ee 2.50 0.25 0.20 0.5e 2 12.ee 3.ee 8.25 0.2e 2.60 2e 3 14.40 2.3e 0.16 0.5e 1.15 92 4 15.55 2.48 0.16 8.50 1.24 8 The opportunity cost of capital is r= 0.12. The growth rate in year 4 remains constant thereafter. b. What part of the stock value reflects the discounted value of Pg the price forecasted for year 3? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Discounted value of P3 c. What part of Py reflects the present value of growth opportunities (PVGO) after year 37 (Do not round intermediate calculations. Round your answer to 2 decimal places.) PVGO d. Suppose that competition will catch up with Growth-Tech by year 4. so that it can eam only its cost of capital on any investments made in year 4 or subsequently what is Growth-Tech stock worth now under this assumption? (Make additional assumptions if necessary) (Do not round intermedinte calculations. Round your answer to 2 decimal places.) Stock value