Larissa has asked Dan to determine a value per share of Rugan stock. To accomplish this, Dan has gathered the following information about some of Ragan's competitors that are publicly traded: EPS DPS Stock Price ROE R Blue Ribband Motors Corp. $.81 $.20 $14.18 10.00% 10.00% Bon Voyage Marine, Inc. 1.38 .62 Nautilus Marine Engines Industry average 38 11.87 13.21 13.00 13.00 14.00 12.00 $.58 $.404 $13.09 12.33% 11.67% Nautilus Marine Engines's negative earnings per share (EPS) were the result of an accounting write-off last year. Without the write- off, EPS for the company would have been $1.60. Last year, Ragan had an EPS of $4.54 and paid a dividend to Carrington and Genevieve of $60,000 each. The company also had a return on equity of 18 percent. Larissa tells Dan that a required return for Ragan of 18 percent is appropriate. Assume the company's growth rate declines to the industry average after five years. What percentage of the stock's value is attributable to growth opportunities?