$1.$ Mindy Manufacturing is a mature firm in the machine tool component industry. The firm$$s most recent common stock dividend was $$4\mathrm{.}75$ per share. Because of its maturity as well as its stable sales and earnings, the firm$$s management feels that dividends will remain at the current level for the foreseeable future.

a$.$ If the required return is $15\%,$ what will be the value of Mindy$$s common stock?

b$.$ If the firm$$s risk as perceived by market participants suddenly increase, causing the required return to rise to $18\%,$ what will be the common stock value?

c$.$ Judging on the basis of your findings in parts a and b$,$ what impact does risk have on value? Explain. use excel to solve.