Given the following payoff diagram: 
How much can firm 1 improve its outcome by committing to a strategy thus transforming the simultaneous move game to a sequential move game?
Definitions:
Cost of Retained Earnings
The opportunity cost for a company of using its retained earnings as a source of finance for new investments, often estimated using the cost of equity.
Growth Rate
The rate at which a company's sales, earnings, dividends, or assets increase over a specified period.
Recent Dividend
The latest distribution of a portion of a company's earnings to its shareholders.
Cost of Capital
The imperative return rate a firm has to achieve on investment initiatives to retain its market worth and draw investment.
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