Problem $3(10$ points$)$ Take a look at the financial forecasts for Growth$-$Tech, Inc. given in the table below. You know that the opportunity cost of capital is $0\mathrm{.}12,$ but you do not know Growth$-$Tech's stock price. From year $4$ onwards, Growth$-$Tech's dividends will grow at an annual rate of $\backslash (8\backslash \%\backslash )$ in perpetuity. Numbers are given on a per share basis. a$)$ Calculate Growth$-$Tech's stock price $($present value$)$ at $\backslash (\backslash$mathrm$\{$t$\}=0\backslash ).$ b$)$ What part of the stock price reflects the discounted value of $\backslash ($ P$\_\{3\}\backslash )($horizon value$),$ i$.$e$.$ the price forecasted for year $3?$ c$)$ What part of $\backslash ($ P$\_\{3\}\backslash )$ reflects the present value of growth opportunities $($PVGO$)$ after year $3?$ d$)$ Suppose that competition will catch up with Growth$-$Tech by year $4,$ so that it can earn only its cost of capital on any investments made in year $4$ or later. What is Growth$-$Tech stock worth under this assumption? $($Make additional assumptions if you did not come up with a solution to b$)$ and$/$or c$).)$