Common stock value$$Constant growth Personal Finance Problem Over the past $6$ years, Elk County Telephone has paid the dividends shown in the following table, $.$

The firm's dividend per share in $2020$ is expected to be $$9\mathrm{.}93.$

a$.$ If you can earn $12\%$ on similar$-$risk investments, what is the most you would be willing to pay per share in $2019,$ just after the $$9\mathrm{.}37$ dividend?

b$.$ If you can earn only $9\%$ on similar$-$risk investments, what is the most you would be willing to pay per share?

c$.$ Compare your findings in parts a and $b,$ what is the impact of changing risk on share value?

a$.$ If you can earn $12\%$ on similar$-$risk investments, the most you would be willing to pay per share is $$.($Round to the nearest cent.$)$

b$.$ If you can earn $9\%$ on similar$-$risk investments, the most you would be willing to pay per share is $$.($Round to the nearest cent.$)$

c$.$ According to the findings in parts a and $b,$ as risk decreases, the required rate of return

$,$ causing the share price to

$($Select from the drop$-$down menus.$)$

Data table

$($Click on the icon here $$ in order to copy the contents of the data table below

into a spreadsheet.$)$