1. The For Murry Rcalty Lid. is presently trading at $66 per share. Given the current business and financial characterislics of the company and the current capital market conditions, investors require a 15 -percent rafe of retum on the company's common shares. The company has jusl paid a \$3 dividend per slare. a) Determine the long-run average annual growth in dividend per share that is currently being expected. b) Suppose due to a sudden downturn in the real estate sector of the economy, investors now expect the future per-share dividend payments of the company to decline at an average annual rate of 6 percent but, in view of their alternative investment opportunities, they still require a 15 -percent rate of retum on the company's common shares. How will this change in investors' expectations affect the market price of the company's common shares