You have the following information concerning Nyraria Holdings plc. CSE (the book value of equity) as at 31 March 2020 was 5,657 million; its cost of equity capital was 7.7%. Its policy is to pay dividends equal to 50% of its comprehensive income (CE). There will be no share issues or buybacks. CE and abnormal earnings for the year ended 31 March 2020 amounted to 884 million and 482 million, respectively. Comprehensive income (CE), in millions of euros, is expected to equal: Year ending 31 March 2021 780 2022 890 2023 910 c) What will be Nyrarias PE if, after 2023, abnormal earnings are expected to decline by 205 million per year until they reach zero in 2025? (7 marks) d) What will be Nyrarias PB if, after 2023, abnormal earnings are expected to decline at 10% per year forever? (7 marks) e) Returning to the strategic taxonomy: what kind of company is Nyraria? Your explanation should make reference to your results in parts (c) and (d).