Apple Inc has a beta of $3.$ The risk$-$free rate is $10$ percent and the expectedreturn on the market portfolio is $11$ percent. The company currently pays a dividend of $88$ a share, and investors expect it to experience a growth in dividends of $3$ percent perannum for many years to come.

a$.$ What is the stock's required rate of return according to the CAPM?

b$.$ What is the stock's present market price per share, assuming this required return?

c$.$ What would happen to the required return and to market price per share if the betawere $2?$