Using the ?P/E ratio approach to? valuation, calculate the value of a share of stock under the following? conditions: the? investor's required rate of return is 13 ?percent, the expected level of earnings at the end of this year ?(E1?) is ?$8?, the firm follows a policy of retaining 50 percent of its? earnings, the return on equity ?(ROE?) is 15 ?percent, and similar shares of stock sell at multiples of 9.091 times earnings per share. Now show that you get the same answer using the discounted dividend model.