35. (LO 22.3) A firm's next-period market value of equity is $3 million and there are 100,000 shares outstanding, with k = 12 percent. a. What is the current stock price if the firm pays $600,000 in cash dividends? b. What is the number of shares outstanding if a firm spends its extra $600,000 to buy back shares at $36 per share instead of paying $600,000 in cash dividends? c. What is the current stock price if a firm spends its extra $600,000 to buy back shares at $36 per share instead of paying $600,000 in cash dividends?