I need help with question 11 please.

10. While valuing the equity of Rio National Corp. (see CFA Problem 9), Katrina Shaar is consider- ing the use of either cash flow from operations (CFO) or free cash flow to equity (FCFE) in het valuation process. a. State two adjustments that Shaar should make to cash flow from operations to obtain free cash flow to equity. b. Shaar decides to calculate Rio National's FCFE for the year 2017, starting with net income Determine for each of the five supplemental notes given in Table 18H whether an adjust. ment should be made to net income to calculate Rio National's free cash flow to equity for the year 2017, and the dollar amount of any adjustment. c. Calculate Rio National's free cash flow to equity for the year 2017 11. Shaar (see CFA Problem 10) has revised slightly her estimated earnings growth rate for Rio National and, using normalized (underlying trend) EPS, which is adjusted for temporary impacts on earnings, now wants to compare the current value of Rio National's equity to that of the industry, on a growth-adjusted basis. Selected information about Rio National and the industry is given in Table 18K. Compared to the industry, is Rio National's equity overvalued or undervalued on a P/E-10- growth (PEG) basis, using normalized (underlying trend) earnings per share? Assume that the risk of Rio National is similar to the risk of the industry. Rio National Table 18K Rio National Corp. vs. industry Estimated earnings growth rate Current share price Normalized (underlying trend) EPS for 2017 Weighted-average shares outstanding during 2017 Industry 11.00% $25.00 $ 1.71 16,000,000 Estimated earnings growth rate Median price/Earnings (P/E) ratio 12.00% 19.90