The stock of Nogro Corporation is currently selling for $30 per share. Earnings per share in the coming year are expected to be $3 The company has a policy of paying out 50% of its earings each year in dividends. The rest is retained and invested in projects that earn a 10% rate of retum 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 DOM, what rate of return do Nogro's investors require? (Do not round intermediate calculations.) Rate of retum b. by how much does its value exceed what it would be it all earnings were paid as dividends and nothing was reinvested? PVoo Noor were to cut is dividend payout ratio 10.25 what would happen to pic Stoch one would be rected