The stock of Nogro Corporation is currently selling for $20 per share. Earnings per share in the coming year are expected to be $5 The company has a policy of paying out 40% of its earnings each year in dividends. The rest is retained and invested in projects that earn a 25% rate of return per year. This situation is expected to continue indefinitely .. Assuming the current market price of the stock reflects its intrinsic value as computed using the constant growth DDM, what rate of return do Nogro's investors require? (Do not round intermediate calculations.) Rate of our b. By how much does its value exceed what it would be if all earnings were paid as dividends and nothing was reinvested? PVGO The Fl Corporation's dividends per share are expected to grow indefinitely by 6% per year. a. If this year's year-end dividend is $9 and the market capitalization rate is 12% per year, what must the current stock price be according to the dividend discount model? (Do not round intermediate calculations, Round your answer to 2 decimal places.) c. How much is the market paying per share for growth opportunities (that is, for an ROE on future investments that exceeds the market capitalization rate)? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Amount per share