3. Consider the same data as in question 2 and assume that right at this moment, MM Ltd. announces a capital project which is expected to raise the quarterly growth rate of earnings stream from 1.5% to 2.0% permanently. Also, due to higher risks of the capital project, the required quarterly rate of return on MM's common stock rises from 2.5% to 2.8% permanently. Suppose that it takes 10 days for the price of common stock to reach to its new intrinsic value after the announcement and on day 1, the price per share rises to $133 only. What is the net present value, NPV, of buying 10,000 shares of the common stock on day 1 and holding that investment for subsequent 9 days? Also, calculate the excess rate of return over the 9-day holding period. 3. Consider the same data as in question 2 and assume that right at this moment, MM Ltd. announces a capital project which is expected to raise the quarterly growth rate of earnings stream from 1.5% to 2.0% permanently. Also, due to higher risks of the capital project, the required quarterly rate of return on MM's common stock rises from 2.5% to 2.8% permanently. Suppose that it takes 10 days for the price of common stock to reach to its new intrinsic value after the announcement and on day 1, the price per share rises to $133 only. What is the net present value, NPV, of buying 10,000 shares of the common stock on day 1 and holding that investment for subsequent 9 days? Also, calculate the excess rate of return over the 9-day holding period