3. (20 points) The dividend yield on a stock is 2.5% and the interest rate used to discount the stock's cash flows is 7.8%, and both are continuously compounded. Current stock price is $100 per unit. Find the total payment needed for 1 unit by the following methods. The payment amounts are as of the time of payment and have not been discounted to the present date. T is 1 year. a. Outright purchase b. Fully leveraged purchase c. Prepaid forward contract d. Forward contract 3. (20 points) The dividend yield on a stock is 2.5% and the interest rate used to discount the stock's cash flows is 7.8%, and both are continuously compounded. Current stock price is $100 per unit. Find the total payment needed for 1 unit by the following methods. The payment amounts are as of the time of payment and have not been discounted to the present date. T is 1 year. a. Outright purchase b. Fully leveraged purchase c. Prepaid forward contract d. Forward contract