Please help with Part D$!!!!!$

The Digital Electronic Quotation System $($DEQS$)$ Corporation pays no cash dividends currently and is not expected to for the next five years. Its latest EPS was $$17\mathrm{.}50,$ all of which was reinvested in the company. The firm's expected ROE for the next five years is $17\%$ per year, and during this time it is expected to continue to reinvest all of its earnings. Starting in year $6,$ the firm's ROE on new investments is expected to fall to $12\%,$ and the company is expected to start paying out $45\%$ of its earnings in cash dividends, which it will continue to do forever after. DEQS's market capitalization rate is $24\%$ per year.

a$.$ What is your estimate of DEQS's intrinsic value per share? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Answer is complete and correct.

Intrinsic value

$$,36\mathrm{.}09$

b$.$ Assuming its current market price is equal to its intrinsic value, what do you expect to happen to its price over the next year? $($Round your dollar value to $2$ decimal places.$)$

Answer is complete and correct.

Price will

rise

by

$24$

$\%$ per year until year $6.$

Because there is $,$ the entire return must be in capital gains

Answer is complete and correct.

Price in one year

$$,44\mathrm{.}75$

c$.$ What do you expect to happen to price in the following year? $($Round your dollar value to $2$ decimal places.$)$

Answer is complete and correct.

Price in two years

$$,55\mathrm{.}49$

d$.$ What is your estimate of DEQS's intrinsic value per share if you expected DEQS to pay out only $25\%$ of earnings starting in year $6?$

$($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Answer is complete but not entirely correct.

Intrinsic value

$$,33\mathrm{.}32x$