3.MNO Corp. has a market capitalization of $13,500,000 and has 500,000 shares outstanding. MNO currently pays a $2 per-share dividend. Bob currently owns 100 shares of MNO. Answer the following questions. Assume no taxes.a.What is the value of Bobs investment after the dividend is paid (ie cash from the dividend plus share value)? Keep in mind the share price change after the dividend is paid.. b.Bob would prefer to receive a $1 per-share dividend. Show how Bob could achieve an equivalent cash flow while still invested in MNO. Also show that Bobs investment in MNO has the same value as in part (a).. c.Bob would prefer to receive a $3 per-share dividend. If it is possible, show how Bob could achieve an equivalent cash flow while still invested in MNO. Also show that Bobs investment in MNO has the same value as in part (a).. d.Now assume Bob pays a 15% tax on dividends. Repeat (a), (b), and (c). How are the results different? Explain.. e.What are two other real-world factors that were ignored in a), b), and c) that would alter the results? Explain..