Question $2(13$ marks$)$ Ms$.$ Jane Tong is planning her early retirement. Currently, Jane has $$10,000,000$ in savings and plans to invest all the money into CBIC Corporation's shares. CBIC has just paid an annual dividend of $$20$ per share. It is expected that the company's dividend will grow by $10\%$ per year for the next two years before settling at a constant $5\%$ per year indefinitely. CBIC has a beta of $1\mathrm{.}5.$ Given the risk$-$free interest rate is $4\%$ and the market risk premium is $5\%.($a$)$ Compute the required return on CBIC shares using CAPM. $(3$ marks$)($b$)$ What are the expected dividends $($ D$\_(1),$D$\_(2)$ and D$\_(3))$ for the following three years? $(3$ marks$)($c$)$ Given the required return in part $($a$),$ calculate the intrinsic value of one CBIC share. $(5$ marks$)($d$)$ How many shares of CBIC shares can Jane purchase today? $(2$ marks$)$N