An analyst uses the constant growth model to evaluate a company with the following data:$$ Leverage ratio $($asset$/$equity$)$: $1\mathrm{.}5$ Total asset turnover: $1\mathrm{.}6$ Current ratio: $1\mathrm{.}8$ Net profit margin: $6\%$ Dividend payout ratio: $35\%$ Earnings per share in the past year: $$0\mathrm{.}9$ The required rate on equity: $14\%$Based on an analysis, the growth rate of the company will drop by $25$ percent per year in the next two years and then remain unchanged afterward. Assume that the company will keep its dividend policy unchanged.a$)$ Use the multi$-$period DDM to estimate the intrinsic value of the companys stock. b$)$ Suppose after one year, everything else will be unchanged but the required rate on equity will decrease to $13\%.$ What would be your holding period return for the year?