need help on question 14 pls.

10. An analyst gathered the following data about a company * The historical earnings retention rate of 40% is projected to continue the future The sustainable ROE is 12% The stock's beta is 1.2 The nominal risk-free rate is 6% The expected market return is 11% If the analyst believes next year's earnings will be $4 p believes next year's earings will be $4 per share, what value should be placed on this stock? a $22.24 b. $33.32 c. $45.45 II. Which of the following classifications of firms is least likely to comprise cyclical firms a. Housing b. Technology c. Telecommunications 12. The assertion that investors, analysts, and portfolio managers exhibit psychological tendencies that cause them to make systematic errors is most consistent with: a. Behavioral finance b. Weak-form market efficiency c. Fundamental analysis 13. An investor purchases 1.000 shares of each of the stocks in a price-weighted index at their closing prices (ignore transactions costs). On a total return basis, if the index stocks remain the same, this portfolio will: a. Perform exactly like the index over time b. Outperform the index over time c. Underperform the index over time 14. Among valuation models, the difficulty of estimating a required rate of return is most likely to be disadvantage of using a(n): a. Gordon growth model b. Asset-based valuation model c. Enterprise value multiplier model