Vasu Intelligent Systems anticipates earning RM20 per share in the current year. The company plans to distribute RM8 per share as dividends to its shareholders while retaining RM12 per share for reinvestment in new projects, It aims for an expected return on equity of 20%. Going forward, Vasu Intelligent intends to maintain a consistent dividend payout natio and continue targeting a 20% return on equity for its new ventures. However, there are no plans to alter the current number of outstanding common stock shares. a) Calculate the future growth rate for Vasu's carnings. (3 marks) b) Assume the investor's required rate of return for company stock is is percent, what would be the price of Vasu's common stock? ( 5 marks) c) What would happen to the price of the company common stock if it raised ifs dividends to RM12 this year and then continued with that same dividend payout ratio permanently? Should the company make this change? (Sappone that the investor's requiried rate of retum remains at 15% ) Shatify your anter. (8 marks) d) What would happen to the price of the company common stock if it lowered its dividends to RM4 this year and then continued with that same dividend paycut ratio permanently? Should the company make this change? (Asume that the investor's required rate of return remains at 15% and that all future new peojects will carn 2005). You may discussargive your answer using the constant grouth model theong) (9 marks)