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3. Common Stock Value: Constant Growth. Over the past 6 years, ABC Company has paid dividends as shown below. ABC's 2021 dividend is expected

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3. Common Stock Value: Constant Growth. Over the past 6 years, ABC Company has paid dividends as shown below. ABC's 2021 dividend is expected to be $2.84. Year Dividend per share 2020 2.68 2019 2.53 2018 2.38 2017 2.25 2016 2.12 2015 2.00 a. If you can earn 12% on similar-risk investments, what is the most you would be willing to pay per share? b. If you can earn only 9% on similar-risk investments, what is the most you would be willing to pay per share? c. Compare and contrast your findings in parts a and b, and discuss the impact of changing risk on share value.

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