An investor with a required return of 14 percent for very risky investments in common stock has analyzed three firms and must decide which, if any, to purchase. The information is as follows: a b c Current earnings- $2.00 $3.20 $7.00 Current dividend- $1.00 $3.00 $7.00 Expected annual growth rate in dividends and earnings.- 7% 2% -1% Current Market place- $23 $47 $60 a. What is the maximum price that the investor should pay for each stock based on the dividend growth-model? b. If the investor does buy stock A, what is the implied percentage return? c. If the appropriate P/E ratio is 12, what is the maximum price the investor should pay for each stock? Would your answers be different if the appropriate P/E were 7? d. What does stock C