Company is expected to generate an ROE of 15% indefinitely. The current book value per share equals $30. The required return on the stock equals 12% and it expects to grow at a constant rate of 5% forever. What is the value of the stock of the company? Which part of this value is due to growth and how to explain the difference between the value of the stock and the book value per share? What if the ROE generated by the firm would equal 10%?