Part 1Assume it is the start of​ 2009, in the midst of the world economic crisis. Benchmark​ Metrics, Inc.​ (BMI), an​ all-equity financed​ firm, reported EPS of $ 4.81$4.81 in 2008. Despite the economic​ downturn, BMI is confident regarding its current investment opportunities. But due to the financial​ crisis, BMI does not wish to fund these investments externally. The board​ has, therefore, decided to suspend its stock repurchase plan and cut its dividend to $ 1.03$1.03 per share​ (versus almost $ 2$2 per share in​ 2007), and retain these funds instead. The firm has just paid the 2008​ dividend, and BMI plans to keep its dividend at $ 1.03$1.03 per share in 2009 as well. In subsequent​ years, it expects its growth opportunities to​ slow, and it will still be able to fund its growth internally with a target 45 %45% dividend payout​ ratio, reinitiating its stock repurchase plan for a total payout rate of 64 %64%. ​(All dividends and repurchases occur at the end of each​ year.)Suppose​ BMI's existing operations will continue to generate the current level of earnings per share in the future. Assume further that the return on new investment is 15 %15%​,, and reinvestments will account for all future earnings growth​ (if any).​ Finally, assume​ BMI's equity cost of capital is 10 %10%.a. Estimate​ BMI's EPS in 2009 and 2010​ (before any share​ repurchases).b. What is the value of a share of BMI at the start of 2009​ (end of​ 2008)?Hint​: make sure to round all intermediate calculations to at least four decimal places.​ Part 1a. Estimate​ BMI's EPS in 2009 and 2010​ (before any share​ repurchases).​BMI's EPS in 2009 is ​$[input]enter your response here . ​(Round to the nearest​ cent.)Part 2​BMI's EPS in 2010 is ​$[input]enter your response here . ​ (Round to the nearest​ cent.)Part 3b. What is the value of a share of BMI at the start of 2009​ (end of​ 2008)?The value of a share of BMI at the start of 2009​ (end of​ 2008) is ​$[input]enter your response here . ​(Round to the nearest​ cent.)