$($Common stock$$ valuation$)$Dubai$$ Metro's stock price was at $$$$105$ per share when it announced that it will cut its dividend for next year from $$$$10$ per share to $$$$6$ per$$ share, with additional funds used for expansion. Prior to the dividend$$ cut, Dubai Metro expected its dividends to grow at a $3$ percent$$ rate, but with the$$ expansion, dividends are now expected to grow at $6$ percent. How do you think the announcement will affect Dubai$$ Metro's stock$$ price?

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Part $1$

a$.$What is the$$ investor's required rate of return for Dubai$$ Metro's stock?

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enter your response here$\%($Round to two decimal$$ places.$)$