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5. Target (part 2) RIM Valuation In this final step of RIM valuation, we will compute equity values of Target by estimating the residual income and terminal value. To prepare the inputs to calculate the residual incomes, please calculate the following. a. What are the dividends in the past three years? What are the net incomes? 2019: 2.60, 2020: 2.68, 2021: 3.16 b. What is the dividend payout you can use for future years based on the past? c. c. What is the current book equity per share? d. What is the return on equity for Target? e. Compute the residual income for 2021 to 2030 based on the residual income sheet we use in the class. f. Fill in the net income, cost of equity, dividend payout and book equity in the residual income sheet. Compute the residual income for the next ten years Next, we would like to estimate the terminal value for Target in 2030, and then calculate the equity value for Target. Follow the instructions below. h. What is your estimate for the terminal growth rate (g)? Please justify your choice of g. . What is the estimate for terminal value? j. Compute total equity value of Target by adding (any) book equity to discounted future residual income and discounted terminal value. 5. Target (part 2) RIM Valuation In this final step of RIM valuation, we will compute equity values of Target by estimating the residual income and terminal value. To prepare the inputs to calculate the residual incomes, please calculate the following. a. What are the dividends in the past three years? What are the net incomes? 2019: 2.60, 2020: 2.68, 2021: 3.16 b. What is the dividend payout you can use for future years based on the past? c. c. What is the current book equity per share? d. What is the return on equity for Target? e. Compute the residual income for 2021 to 2030 based on the residual income sheet we use in the class. f. Fill in the net income, cost of equity, dividend payout and book equity in the residual income sheet. Compute the residual income for the next ten years Next, we would like to estimate the terminal value for Target in 2030, and then calculate the equity value for Target. Follow the instructions below. h. What is your estimate for the terminal growth rate (g)? Please justify your choice of g. . What is the estimate for terminal value? j. Compute total equity value of Target by adding (any) book equity to discounted future residual income and discounted terminal value