1. (Efficient Market Hypothesis) A stock purchased at $Pt provides an annual dividend of $D a. How do you make a forecast of its price next year? b. What is the rate of return if it were to sell next year? c. If the market believes that the rate of return will be above the equilibrium rate of return on similar stocks show using Demand and Supply analysis the impact of this information on the future price of the stock d. Explain the impact on the rate of return of the stock using the new future price. e. Compare the rate of return in (d) with the equilibrium rate of return