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5-) Janet Ludlow's firm requires all its analysts to use a two-stage DDM and the CAPM to value stocks. Using these measures, Ludlow has valued QuickBrush Company at $63 per share. She now must value Smile White Corporation. a. Calculate the required rate of return for Smile White using the information in the following table: December 2013 Company Quick Brush Smile White Beta 1.35 1.20 Market price $45.00 $35.00 Intrinsic value $63.00 ? Note: Risk-free rate = 4 %; expected market return = 12%. b. Ludlow estimates the following EPS and dividend growth rates for Smile White: First three years: 11% per year Years thereafter: 8% per year Estimate the intrinsic value of Smile White using the table above and the two-stage DDM. Dividends per share in 2013 were $1.93. c. Recommend QuickBrush or Smile White stock for purchase by comparing each company's intrinsic value with its current market price. d. Describe one strength of the two-stage DDM in comparison with the constant-growth DDM. Describe one weakness inherent in all DDMs